• An ex-Goldman Sachs exec says a “tradition of bullying” made workers cry, the Day by day Telegraph stories, citing a lawsuit.
• The previous government reportedly made the allegations in a criticism in London.
• In an announcement to Insider, Goldman Sachs known as the allegations “utterly with out advantage.” 

An ex-Goldman Sachs government mentioned the work tradition within the London workplace was so dangerous that individuals would cry at conferences, the Day by day Telegraph reported, citing a authorized criticism.

The previous government, Ian Dodd, mentioned Goldman’s “tradition of bullying” led him to have a psychological breakdown, the Telegraph reported, citing his courtroom submitting. He mentioned the ultra-long hours he labored affected his psychological well being.

The criticism was filed within the Excessive Court docket of Justice in London by Dodd, who had been world head of recruiting at Goldman Sachs, based on Goldman’s personal submitting within the case. He had joined the financial institution on the finish of 2018 and left in 2021, the Telegraph reported.

Dodd mentioned the work tradition on the elite funding financial institution was so cut-throat that workers would even hear aggressive feedback like, “Take that as your first punch within the face,” he alleged within the criticism, the Telegraph reported.

Goldman rejected Dodd’s allegation about workers crying at conferences in its personal authorized submitting in response to the criticism. “As in lots of workplaces, there have been events when colleagues had been upset, for a wide range of causes (typically unconnected with work and typically related with work), however it’s denied that such cases had been frequent or standard,” the financial institution mentioned in its submitting, which it shared with Insider.

Goldman additionally mentioned that the corporate didn’t impose “unreasonable or inappropriate calls for” on Dodd, and mentioned that it didn’t give him “targets, supply goals, or deadlines.”

“If he felt stress, it was self-generated; it was not imposed on him,” the financial institution mentioned in its submitting. “If he did work extreme hours, this was not as a result of it was required or anticipated of him.” The financial institution’s submitting additionally mentioned that it offered him with “ample assist” and “wellness sources,” together with psychological well being assist. 

In an announcement to Insider, Goldman mentioned: “We imagine these claims are utterly with out advantage.”

A LinkedIn account that appeared to belong to Dodd didn’t instantly reply to Insider’s message in search of remark forward of publication.

The high-pressure office tradition at Goldman Sachs and funding banking typically has been the topic of press protection and litigation.

In 2021, a casual survey that was reportedly despatched to Goldman Sachs administration from 13 junior bankers describing “inhumane” working circumstances on the agency went viral on social media. “A yr into COVID, individuals are understandably fairly stretched, and that is why we’re listening to their considerations and taking a number of steps to handle them,” a Goldman spokesperson informed Insider in an announcement on the time.

Final yr within the US, Goldman Sachs reportedly settled allegations by a former associate who had alleged a tradition of discrimination in opposition to girls on the agency. The financial institution paid the previous associate $12 million to settle the claims, Bloomberg reported on the time, noting that the financial institution’s common counsel mentioned on the time that “Bloomberg’s reporting incorporates factual errors, and we dispute this story.”