This is an interesting one today – well worth a read. Greg Smith, an Executive Director with Goldman Sachs has published an open resignation letter in the New York Times. And it doesn’t hold back!
TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.
What do you think of this? It goes against pretty much everything I said about writing a resignation letter, but I think in many ways this is an unique example where the individual doesn’t really need to worry too much about his next job (frankly, if the NY Times is prepared to publish your resignation letter, you don’t need to think about getting a reference from your line manager!).
Clearly, Smith has serious personal and professaionl ethical concerns with the operations at Goldman Sachs, so I can understand him doing this, particularly considering the state of the financial industry over the past few years. A bold move on his part to discuss these issues publicly given the impact this could potentially have.
Do you think his actions were warranted and / or appropriate?
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