Monday, June 04, 2012

Forced To Go Galt

Interesting.
Goldman Sachs last week laid off roughly 50 people, according to people briefed on the matter but not authorized to speak on the record. The cutbacks have rattled some people in the firm, in part because a number of the employees were managing directors and on the higher end of Goldman’s pay scale. Managing directors make a base of $500,000 and receive an annual bonus that can climb into the millions of dollars.