Goldman Sachs bosses can take unlimited vacations, leaked memo says

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The “flexible vacation” scheme, which came into effect on May 1, lifts a cap on the number of vacations for the bank’s senior executives, allowing them “to take time off when needed without entitlement to a day off.” fixed holiday”.

Next year, the US bank also plans to introduce a minimum vacation pay of 15 days for all employees, with at least one week of consecutive vacation per year.

Goldman Sachs did not immediately respond to Insider’s request for comment outside of normal working hours.

“As a business, we are committed to providing our employees with differentiated benefits and offerings to support wellbeing and resilience,” the memo reads, according to the Telegraph.

“As we continue to nurture our employees at every stage of their careers and focus on the experience of our associates and general managers, we are pleased to announce enhancements and changes to our global vacation program designed to further support rest times and recharge.”

Goldman Sachs’ decision follows similar moves by major financial groups to attract talent and boost retention rates in an increasingly tight job market.

Insider reported that PwC will close its offices for two weeks a year to allow employees to recharge their batteries. Management consulting firms, including McKinsey and Boston Consulting Group, are ramping up the benefits of retaining staff.

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