Goldman Sachs Says Sorry

God’s work? We all know their symbol GS stands for “Got Satan”.

I was laid off from Goldman Sachs on November 17, 2009 (a year ago). At that time we were all given severances of three months to a year. Upper management got a year — support staff got three months. Everyone laid off had been with the company over five years. They laid off 15 percent of its workforce simply so they could get the free bailout money. Everyone in my area that got laid off had been excellent employees and had all gotten excellent reviews over the years. They did not offer early retirement, it was not last in/first out, they did not ask if anyone wanted to leave — they just cut people. The issue lies at the people they chose to cut. Out of the 15 in our office that got cut only three were men — all of them in management or professions. Out of the 15 let go, nine of them were women over the age of 40. Out of the 15, two were disabled (both had worked for the company over 15 years each), one in a wheelchair and one legally blind. One person had been with the company 29 years and they called him and laid him off while he was in his hospital bed on medical leave facing surgery. Out of the 15 people let go, eight had had recent serious illnesses and now their health is in jeopardy because of the high cost of health insurance. In this past year, at least two of the 15 has had to file Chapter 13 and three are at risk losing their homes, one already lost her home. Now to show you just how dirty this company is — they took the bailout money because heaven knows if they went under the country would be ruined, and within weeks of laying these loyal, hardworking, experienced people (albeit ones with health and disability issues as well as being older women), they started advertising for their replacements. The accountant who was in the hospital had his job advertised before he even was laid off. The reasons we were told they were laying us off was that they couldn’t afford us — yet they paid everyone pretty good severance packages and replaced every employee before their severance even ran out! They never offered the displaced experienced employees their jobs back. Add that to the fact, that Goldman now brags that they are paying all of their employees a bonus this year that averages $700K per person, not to mention that they paid bonuses last year when they were doing so badly that they needed bailout money and they laid off 15 percent of their staff. One of those $700K bonuses would have paid a year’s salary for everyone who had been laid off in my division. One bonus. How many bonuses did the pay? They laid off people who had given many good years to the company, had many good years to still give, had gotten excellent reviews throughout the year, who had experience and job knowledge and specifically put people out of the street who would have trouble finding work due to age and disability. So what is my take? If a company lays people off and then shows such a significant profit that they can pay huge bonuses, then they didn’t need to lay the people off, then they need to be footing the entire bill for the laid off people’s unemployment benefits as long as they are turning a profit that could have paid for those employees to continue at their jobs. There is NO reason the government should be footing the unemployment bill for Goldman Sachs employees. If they have the money to replace those employees immediately, then they certainly did not need to take the bailout money, and ultimately they did not need to lay off the experienced, respected employees.
This is just more Blankfein spin. Makes me ill.

The execs at GS did not get away with anything. The Lord still knows what they did. They need to give UNTIL it HURTS. That will make it up SOME. Otherwise, that mere 3% means nothing.

@Ed
No offense, only strong people survive in the corporate world.

I will say I am most surprised by their apology. I have mixed feelings about this. I am not a religious fanatic, but what is going thru my mind right now is the part in the Bible that Jesus says and I am paraphrasing…if a brother violates you and then apologizes for said violation then we are to forgive, and if he does it again even up to seven times in one day and apologizes seven times then we are to still forgive him.
I have not read the complete Bible. I am not a theologian. I am not a religious zealot, but I know Jesus very well. He agrees with that passage in the Bible.
I am a very honest person and have been called brutly honest. I will say this…I literally have despised Goldman Sachs and all that they are. The manner in which they have conducted themselves is the complete antithesis to who I am as a person on this planet.
And, wouldn’t you just know it…Goldman Sachs goes and apologizes and even admits to wrong doing. I often see the future, but I sure didn’t see this.
As much as it almost hurts me to set my ego aside in this moment…I love Jesus too much not to set my ego aside and say to Goldman Sachs…THANK YOU! Thank you for apologizing publicly. Thank you for apologizing and admitting wrong doing. And, thank you for donating some of that money back.
I ask you to please also consider the homeless and so many American children going to bed without food. I myself never thought I would find myself in a homeless position but I sure have. Tonight is a good night. I am able to stay at a motel. Thanks to beautiful Idaho I have been able to sleep at rest stops in my car. I got let go of my job as an RN in Philadelphia, and started driving across the country to see if there were any available positions in the area of nursing I am experienced in. None in the places I checked out in Arizona. And, so far none in Boise. I used to work at a hospital Bill Frist owned in Las Vegas however he denied owning it. I refused to do medicare fraud at that hospital and got a lot of flak about that, and former Senator Bill Frist actually paid to have me harassed. He actually tried to keep me from getting another job. And, the worst part is…he did this in a cowardly slimy snake in the grass way.
So when I think of Goldman Sachs apologizing publicly and then donating some of that money back and when I just thought of Bill Frist not having the courage to admit his wrong doing or to apologize to me…well gee I am finding it rather easy to forgive Goldman Sachs right now.
Truly,
Karen Romero