mass contract terminations and perm paycuts at the Goldman Sachs

[Bluenose]

that's the word.

[northernladuk]

Any evidence or is this just hearsay? They have history of some noteable rate cuts in the past.

http://www.egos.co.uk/contract-breakers.htm

[BrilloPad]

Any evidence or is this just hearsay?

Recent rumour of this at MS. Turned out to be nonsense.....

[Bluenose]

Any evidence or is this just hearsay? They have history of some noteable rate cuts in the past.

http://www.egos.co.uk/contract-breakers.htm

evidence? yes

probably something in press when they do q1 results conf call.

trading arm affected so possibly only a small number.

[WTFH]

possibly only a small number.

So, if it's "possibly only a small number", then why claim that it is "mass terminations"?


Have you been writing for the Daily Fail recently?

[Bluenose]

So, if it's "possibly only a small number", then why claim that it is "mass terminations"?


Have you been writing for the Daily Fail recently?

No need to try and get smart with me pal. I don't usually post information on here because of the likes of you so button it.

In % terms globally across GS yes it will be a small number, in terms of London trade-arm based contractor head-count whole project teams have been terminated at short notice.

e.g contracts up for renewal were offered for the rest of 2016 and then revoked last week.

[MrMarkyMark]

No need to try and get smart with me pal. I don't usually post information on here because of the likes of you so button it.

I didn't realise the pair of you were such close friends

[northernladuk]

No need to try and get smart with me pal. I don't usually post information on here because of the likes of you so button it.

To be fair you can kinda see where he is coming from. A fairly eye opening title that then changes scope considerably when we try digging in to the pretty intangible details. It does make it a little difficult to swallow as there is no solid evidence so it's news not really information and it looks in the similar format to a well known paper.

[uk contractor]

On LBC earlier today city editor said London Investment Banking turnover is down 30% this year & expected to produce sizeable job loses........ (he was talking specifically about HSBC but I can see this being similar across the board in banking no wonder the sector is currently treading water contracts wise!).

[kaiser78]

I heard from a mate at LBG that they were also shortly going to be mandating a rate cut for contractors. Nothing for sure see yet though.