Earlier in October it was announced 20 entry-level analysts were being fired at Goldman Sachs. These fresh college graduates were given the axe for cheating on internal training assessments, designed to test their industry and regulatory knowledge.
A Goldman Sachs spokesperson commented on the scandal, saying the cheating is “completely inconsistent” with the firm’s values.
The New York Post reported on the incident saying banks are not taking any chances when it comes to regulatory issues in the current environment. The Post piece went on to say the firing demonstrates the idea that the glitz and glamour once associated with the life of bankers isn’t necessarily what it used to be.
The junior staffers will no longer enjoy an $85,000 a year salary according to the Post.
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