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Goldman Sachs bankers claim inhuman and abusive working conditions

Ukraine / North America / Business and Finance

"Lack of sleep, treatment by senior bankers, mental and physical stress ... I went through a foster family, and this is possibly worse," said one respondent in a survey conducted by a group of American analysts.

Goldman Sachs bankers claim inhuman and abusive working conditions

A number of trainees at investment bank Goldman Sachs have warned they could resign if their grueling working conditions do not improve.

An internal survey of 13 employees showed that they work 95 hours a week on average and sleep five hours a day. Their personal relationships also suffered, as did their physical and mental health.

Analysts have warned that they are likely to leave the bank within six months if nothing changes.

The poll, which began spreading on social media on Wednesday, was conducted by a group of US investment banking analysts.

All respondents said their work had a negative impact on their relationships with friends and family, and 77% said they were victims of abuse in the workplace.

83% said they experienced “over-control or micromanagement,” and 17% said they were often yelled at or swore at.

Analysts presented their findings to Goldman Sachs executives in February, and the bank said it has since taken steps to address employee burnout.

“We understand that our people are very busy, because the business is strong and volumes have reached historic levels,” said Nicole Sharp, a spokeswoman for the bank. “One year after the start of Covid, people are understandably quite tense, so we listen to their problems and take several steps to solve them.”

The bank says it is strengthening its Saturday exceptions policy and moving towards automating certain tasks for junior staff.

Goldman Sachs reported 2020 net revenues of $ 44.6 billion.

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