Higher pay to retain and attract employees impacted Goldman Sachs profits, and the big bank’s CEO says companies across industries are experiencing the same thing.
“There is real wage inflation everywhere in the economy. Everywhere,” Goldman Sachs CEO David Solomon told analysts on the company’s fourth quarter earnings call on Tuesday.
In the final quarter of 2021, the bank logged $3.2 billion in expenses associated with compensation and benefits — a 31% increase compared to the same…
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