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'I was promoted just last month': Goldman Sachs' Bengaluru employee on getting fired amid global job cuts

'I was promoted just last month': Goldman Sachs' Bengaluru employee on getting fired amid global job cuts

Manas Ranjan Panda took to LinkedIn, "It has taken me some time to absorb the news as I was promoted just last month and made good profits for the firm in the last two years.”

Panda has used social media, like many other people who have recently lost their jobs, to search for better opportunities and connect with potential new employers. Panda has used social media, like many other people who have recently lost their jobs, to search for better opportunities and connect with potential new employers.

Goldman Sachs’ massive layoffs have brought in shockwaves for employees as they look for new opportunities. Since the most recent layoffs go beyond the company's yearly exercise to remove underperforming employees, it has also confused workers who were let go despite receiving rewards for their performance.

The company fired 3,000 bankers today after summoning them to its New York headquarters under the guise of a meeting with CEO David Solomon.

After being promoted in December, Manas Ranjan Panda, vice president of equities risk trading at Goldman Sachs in Bengaluru, claimed that he was fired just last week. He took to LinkedIn, "It has taken me some time to absorb the news as I was promoted just last month and made good profits for the firm in the last two years.”

Panda claimed that during his nearly three years at Goldman Sachs, he produced some of his best work in terms of commercial thematic and single stock research ideas.  "Additionally, I got an opportunity to built low churn fundamental systematic long/short models which generated positive returns each year," he added.

Panda has used social media, like many other people who have recently lost their jobs, to search for better opportunities and connect with potential new employers.

"I am now looking forward to my next opportunity and open to work/business. Investment banking and corporate strategy roles are the most applicable but I'd like to discuss other interesting opportunities as well," he wrote on LinkedIn.

The job cuts at Goldman Sachs started on Wednesday and are anticipated to affect 3,200 employees, or roughly 6.5 per cent of its workforce. The investment juggernaut has just completed its largest round of layoffs.

According to Reuters, the layoffs at Goldman Sachs is likely to affect most of the bank's major divisions, with its investment banking arm facing the most severe cuts.
 

Published on: Jan 16, 2023, 4:04 PM IST
Posted by: Shubham Singh, Jan 16, 2023, 4:00 PM IST