Ethics in the digital workplace
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
![img text](https://www.eurofound.europa.eu/sites/default/files/2022-05/ef22038_3.png)
Goldman Sachs is to cut senior positions (director and vice president level) from its offices in London, New York, and Hong Kong. These cuts are largely seen as a response to a 60% decline in first quarter profits in 2016, as the bank adjusts to what it has recently described as a "lower growth environment"; indeed, there has been a slowdown in dealing and trading across the bank as a whole in the first quarter of 2016. The affected positions will be in the mergers and debt & equity capital teams. 2015 saw a record year in terms of turnover for the mergers and acquisitions team, and this streamlining is a way of capitalising on this changes duringĀ 2016. These cuts are in addition to Goldman Sachs' usual cuts of around 5% of the workforce who "under-perform" to make way for new hires.
Eurofound (2016), Goldman Sachs, Internal restructuring in World, factsheet number 87660, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87660.