Goldman Sachs’ bankers set to share £5.3 BILLION in pay and bonuses despite profits slump

US-based investment bank made £670million in the three months to the end of June but that was down by 53% on the same period last year

fedmoney

by Graham Hiscott | Mirror | July 16, 2015

Mega bank Goldman Sachs has set aside £5.3 billion for six months of staff pay and perks – despite profits slumping.

The massive sum in salaries and bonuses and other benefits equates to more than £150,000 for each of the Wall Street giant’s 34,900-strong worldwide ­workforce, with some high-flying bankers pocketing a much bigger share than that.

The US-based investment bank employs around 5,500 people in the UK.

Headed by chief executive and chairman Lloyd Blankfein, it made £670million in the three months to the end of June – but that was down by 53% on the same period last year.

Luke Hildyard, of think tank the High Pay Centre, said: “This is an example of the greedy, obnoxious way that the economy works.

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