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Goldman’s David Solomon joins CEOs taking pay cuts amid job cuts

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Executive compensation packages are in focus as top Silicon Valley and Wall Street CEOs slash jobs

As layoffs at technology and finance companies in the US have piled up, their executives have talked at length about the need to cut costs in a challenging economic environment. At some of the biggest firms, the same austerity measures are also being applied in the C-suite.

David Solomon, the CEO of Goldman Sachs Group, was the latest to take a hit. His 2022 compensation was cut by about 30% to $25m, the bank said on Friday. Solomon joins Morgan Stanley CEO James Gorman among bank bosses accepting a pay cut for his work. Alphabet’s compensation details have not yet been released, but CEO Sundar Pichai has said that senior executives will get significantly lower bonuses this year...

 

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