Goldman CEO David Solomon admitted that the bank is planning to cut jobs due to economic reasons—a decision that comes as other big banks are also considering similar options and the United States is seeing an increase in unemployment claims. In his year-end message to staff, Solomon said that the firm is working on a…
Goldman CEO Says Jobs Cuts Coming, Jobless Claims Rise in US
December 30, 2022
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Business & MarketsCompaniesDavid Solomoneconomic recessioneconomyjob cutsjobless claimstech job cutsUS
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Big-City Offices Remain Mostly Empty Amid Remote Work
December 1, 2022
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Business & MarketsDavid SolomoneconomyElon MuskGoldman SachsJLLKastle Systemsoffice spacereal estateTwitterUSUS Real Estate
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Offices in America’s biggest cities are still less than half occupied, reflecting the impact of remote work despite an ongoing campaign by many employers to summon workers back to their desks. According to a weekly update by access control company Kastle Systems, offices across 10 cities were just 37.8 percent occupied on average as of…
It Is Not Wall Street’s Job To ‘Ostracize’ Russia: Goldman Sachs CEO
March 14, 2022
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Business & EconomyCompaniesDavid Solomoneconomic policiesEuropeGoldman SachsJP MorganMarketsNew Sanctions on RussiaRussia-Ukraine WarUSUS NewsWorld
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Despite what’s happening in Ukraine, it was not the responsibility of businesses to engage in politically-motivated exits, according to Goldman Sachs CEO David Solomon, as his bank decided to leave the country following a multitude of international corporations that have forfeited their operations in Russia. The task of deciding a boycott lies with the United…
US Bank Executives Raise Concerns Over Inflation
December 7, 2021
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bankBusiness & EconomyBusinesses in COVID-19CCP VirusCharlie ScharfCompaniesDavid Solomoneconomic policieseconomyexecutivesinflationInvestmentMarketsUSUS NewsWorld
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NEW YORK—U.S. bank executives on Tuesday raised concerns about the impact of a sustained period of higher inflation, adding to pressure on the Federal Reserve to accelerate plans to slow down the pace of its asset purchases. Wells Fargo Chief Executive Charlie Scharf said at a conference that the Fed may need to move more…
Goldman Sachs CEO Solomon Pays Price of 1MDB Scandal
NEW YORK—Goldman Sachs Chief Executive David Solomon’s annual pay fell by $10 million, or 36 percent, in 2020, according to regulatory disclosures filed Tuesday, reflecting the bank’s role in Malaysia’s 1MDB scandal. Solomon will receive $17.5 million for his work during the year, compared with $27.5 million the year before, the bank said. Goldman previously…
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