Goldman Sachs head of personal finance management Joe Duran discussed the layoff of 3,200 employees, telling “Varney & Co.” everything the Wall Street firm does is about what’s best for clients and employees.
JOE DURAN: We’ve been around for 150 years. I can comment on that. I can say as a partner of the firm, I have complete faith that everything we do, we’ve been through sunshine and rain and everything we do is about what’s best for our clients, what’s best for everyone we work with, including our employees.
CONCERNS OVER A ‘WHITE COLLAR RECESSION’ GROW AS GOLDMAN SACHS, MORGAN STANLEY, AMAZON AND OTHERS CUT JOBS
These are tough decisions. I’m not in the room when they’re made, but I can tell you that we as partners support the decisions that are being made by the executive office.