New Goldman Sachs policy gives bosses unlimited days off - The Telegraph
Reuters
Published May 14, 2022 03:35PM ET
(Reuters) - Goldman Sachs Group Inc (NYSE:GS) will allow its partners and managing directors to take as much time off as they want under a new "flexible vacation" scheme to promote "rest and recharge," The Telegraph reported on Saturday, citing an internal memo.
The Wall Street bank memo said that, as of May 1, there will be no cap on paid leave and senior staff can "take time off when needed without a fixed vacation day entitlement," the newspaper added.
All employees are expected to take at least 15 days' leave per year from next January, with at least one week of consecutive time off, the report cited the memo as saying.
Goldman Sachs did not immediately respond to a request for comment.
This change is significant for Wall Street banks, whose employees work extremely long hours. It comes about two months after a group of first-year Goldman Sachs analysts complained in March of being overworked and threatened to quit within six months unless conditions improved.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.