Job cuts even at Goldman Sachs

We noted some time ago that in an iffy environment, some firms will take the opportunity to lay off the under-performers. At Goldman Sachs, employees are accustomed to this. Not even a stupendous year, certainly one for the ages, will prevent the top dogs from getting rid of the poorest performers. Every year they get rid of the unfortunate five percent or so who are deemed not up to par. According to Forbes, that will amount to about 1,500 professionals. The meritocracy matters, even when the company is rolling. Perhaps that's one of its secrets. Most of these people will fare well in the job market.  

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