The new Goldman Sachs-owned hotel located next to their headquarters will be laying off 250 employees in January, says Crains New York.
The layoffs are in preparation for construction to make the hotel fancier, which starts in January.
We’re hearing about them now because of a state labour law that requires advance notice of a large number of layoffs.
But the timing is also interesting because layoffs are hitting a number of Wall Street firms right now – RBS, Bank of America, JPMorgan, Citadel, and DE Shaw for example.
News of the layoffs will probably also freak out the rest of Goldman’s neighbours, who have accused the firm of “gentrifying” the area.