“I was also impacted by the layoffs at Goldman Sachs just after my 23rd birthday. Wow, this is truly a different way to start a year,” Shubham Sahu, an IIT-Kharagpur graduate working at the firm's Bengaluru office, posted on LinkedIn after being laid off. The Goldman Sachs layoffs, which began on Wednesday, January 11, were reportedly brutal, especially for the Indian employees.

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Many employees took to social media platforms asking for new job opportunities.

As per media reports, around a third or 3,200 people are likely to be let go, which is said to be the largest among banks.

A tweet by Corporate Chat India mentioned that employees in India were asked to go to a conference room where they were told that they have been laid off and asked to leave immediately without being allowed to go back to their desk

“Started a while ago with a 10-person layoff. But now 100s are expected to be cut,” read the tweet.

Also read: Layoffs begin in Ola, 200 employees impacted

Additionally a Goldman Sach employee posted on the anonymous network Blind that 5.5 percent employees from the corporate directory between Bangalore and Hyderabad have been laid off. According to the post, the engineering division and analyst jobs have been hit the worst.

Among the stories of layoffs, Sahu mentioned: "It was my first job and my first experience in software development. While my time at GS was short, I am grateful that I had the chance to learn and grow in such a conducive environment."

Also read: Goldman Sachs to lay off nearly 3,200 employees this week, these divisions to be impacted

Indian workers who are on H-1B visas in the United States are also impacted.

Shilpi Soni, another software engineer from India employed in the Texas office of Goldman Sachs, remarked, "how quickly life can turn upside down."

"I take pride in being the first person in my family to pursue a master's in a foreign country. I come from a rural family, so it has been one roller coaster of a journey, overcoming social and financial restrictions to come here," Soni wrote on Linkedin.

Aman Soneji, who worked as an associate in the company, wrote in a post, “I took a day to recoup and reorganise myself. This has been especially difficult on me, since I have 60 days to find a new role to stay in the country due to my H1B visa status.”

Also read: Goldman Sachs begins ‘brutal’ layoff of 3,000 staff, largest among banks

(Edited by : Shoma Bhattacharjee)

First Published:Jan 13, 2023 5:25 PM IST