Goldman Sachs to send more resources to its junior bankers

 Goldman Sachs Group Inc’s CEO on Monday said that the management is going to work harder to give them holidays on Saturdays and to shift bankers from other divisions to the busiest teams in the investment bank while responding to the complaints from junior bankers according to a transcript of a call seen by Reuters.

According to Reuters last week’s report,  a group of junior bankers in Goldman’s investment bank told senior management in February that they work for about 100-hours a week and can sleep just 5 hours at night to keep up with increasing client demands. 13 first-year employees from the group said they were likely to quit by summer if the conditions didn’t improve.

Through a voice note sent by the bank on Sunday night, Goldman Chief Executive David Solomon told employees that it will strengthen enforcement of its Saturday rule, which holds that employees cannot work from 9 p.m. Friday night to 9 a.m. on Sunday, to make sure they have at least one day off each week.

The bank will also improve its effort to hire more junior bankers and will reassign some bankers from less busy divisions to busier ones to lessen the workload.

The bank has said it understands that the staffers are facing unique pressures due to the pandemic, which made most of them work from home and the surge in demand for blank check companies.

“In this world of remote work, it feels like we have to be connected 24/7,” Solomon said. “We’re here to provide support and guidance. This is not easy, and we’re working hard to make it better.”