At the height of the pandemic, when seemingly everything remained up in the air, some Wall Street banks looked to offer employees comfort.
Many on the Street pledged to hold off on layoffs for the remainder of the year, vowing to weather the storm together with their employees.
Six months later, times have changed.
Bloomberg reported Goldman Sachs will start cutting jobs again. The bank joins peers Wells Fargo, Citigroup, and JPMorgan in a return to downsizing.
The news comes on the same day CNBC reported Citigroup is making cuts to its equities trading division, some of which include senior staffers.
Daniel Geiger has a great profile on David Simon, Simon Property Group’s chief executive and chairman.
Daniel spoke to more than a dozen insiders who have worked with Simon to get a peak inside his world.
Simon led the group set to acquire bankrupt department store JCPenney and is a key player in the mall business.
Reed Alexander and Casey Sullivan have a nice follow up to their report last week that headhunters and private-equity firms are holding off on recruiting for 2022 jobs. Turns out at least one recruiting firm has already broken the informal agreement made by the industry’s top players. Read more about all the drama here.
Gusto, the $3.8 billion payroll platform, is offering free earned wage access. Shannen Balogh spoke to the startup’s CEO about why the company decided to launch the offering, and what it could mean for the future of the red-hot company. Check out the story here.
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