New York Times (March 14)
An opinion piece by Greg Smith is creating a PR nightmare for his former employer. Entitled “Why I Am Leaving Goldman Sachs,” Smith’s article has become the newspaper’s most e-mailed article. After working nearly twelve years at the firm, Smith wrote the letter on his last day. Smith longs for the once-proud culture that placed value on clients and bemoans the firm’s present atmosphere, which he describes as “toxic and destructive,” focused on making money off clients rather than providing them with the best solutions. “Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.” Smith hopes his letter will wake up the Board of Directors. He urges them to “Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist.”
An opinion piece by Greg Smith is creating a PR nightmare for his former employer. Entitled “Why I Am Leaving Goldman Sachs,” Smith’s article has become the newspaper’s most e-mailed article. After working nearly twelve years at the firm, Smith wrote the letter on his last day. Smith longs for the once-proud culture that placed value on clients and bemoans the firm’s present atmosphere, which he describes as “toxic and destructive,” focused on making money off of clients rather than providing them with the best solutions. “Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.” Smith hopes his letter will wake up the Board of Directors. He urges them to “Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist.”
Tags: Clients, Corporate culture, Goldman Sachs, Greg Smith, PR
