The Goldman Sachs logo. AP Photo/Richard Drew
A former Goldman Sachs executive accuses the bank in London of a “bullying culture” that would have made employees cry, reports the “Daily Telegraph”, citing a lawsuit.
The former executive is said to have raised the allegations in a lawsuit in London.
In a statement to Insider, Goldman Sachs called the allegations “completely unfounded.”
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A former Goldman Sachs executive said the work culture at the London office was so bad that people cried at meetings, the Daily Telegraph reported, citing a lawsuit.
Former manager, Ian Dodd, said Goldman’s “bullying culture” caused him to have a mental breakdown, reported the Telegraph, citing his court record. He said the extremely long hours had affected his mental health.
The lawsuit was brought in the High Court of Justice in London by Dodd, who was Goldman Sachs’ global head of recruitment, Goldman’s filing shows. He joined the bank in late 2018 and left in 2021, the Telegraph reported.
Dodd said the Work culture at the elite investment bank was so homicidal that employees even heard aggressive comments like “take that as your first slap in the face,” he claimed in the complaint, the Telegraph reported.
Goldman dismissed Dodd’s claim about employees crying in meetings in his own defense: “Like many workplaces, there have been occasions when colleagues have been upset for a variety of reasons (sometimes unrelated to work and sometimes workrelated). , but it is denied that such incidents were common or common,” the bank said in its statement of defense, which it shared with Insider.
Goldman also said that the company did not impose any “unreasonable requirements” on Dodd and that it did not give it any “targets, delivery targets or deadlines”.
“If he felt pressured, it was his own fault and not imposed on him,” the bank said in its statement. If he has worked excessively, it is not because it was asked or expected of him. The bank’s statement also said it provided him with “appropriate support” and “wellness resources,” including psychological support.
In a statement to Insiders, Goldman said, “We believe these allegations are completely unfounded.”
A LinkedIn account that appeared to belong to Dodd didn’t immediately respond to Insider’s message, which requested comment before publication.
The high-pressure workplace culture at Goldman Sachs and in Investmentbanking in general was already the subject of press reports and litigation.
In 2021, an informal poll allegedly conducted by 13 The Junior Banker was sent to Goldman Sachs management and in the “inhumane” working conditions in the company described went viral on social media. “After a year of COVID, people are understandably quite tense, so we’re listening to their concerns and taking several steps to resolve them,” a Goldman spokesman said in a statement to Insider at the time.
last year has Goldman Sachs in the US the accusations settled by a former partner who had alleged a culture of discrimination against women at the company. The bank paid the former partner $12 million to settle the allegations, as Bloomberg reported at the time. The bank’s general counsel stated at the time: “Bloomberg’s reporting contains factual errors and we dispute that story.”
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