UNLIMITED HOLIDAYS FOR GOLDMAN SACHS STAFF

GOLDMAN SACHS has told senior staff to take as many holidays as they want under plans to tackle complaints over its long-hours culture.

Partners and managing directors were informed there will be no cap on the number of paid leave days they can take as part of a new vacation policy.

The ‘flexible vacation’ scheme came into effect from May 1 to allow senior staff ‘to take time off... without a fixed vacation day entitlement’, a memo seen by The Daily Telegraph said.

It added that every employee will also be expected to take a minimum of 15 days leave per year from next January, with at least one week of consecutive time off. Junior staff will get an extra two days off each year.

Goldman, the first major financial institution to bring in the policy, is notorious for its longhours culture. Last year junior staff begged to work just 80 hours a week amid complaints ‘inhumane’ expectations were leading to mental health issues.

Goldman is one of a handful of financial institutions to get staff back in the office five days a week – chief executive David Solomon described working from home a ‘temporary aberration’.