"SIX SIGMA"
The company's whittling away of poor performers involves an elaborate peer review process. Employees are reviewed by supervisors, co-workers and employees they supervise "in a 360-degree review process," according to the company's annual report.
Poor performers are known internally as being on the "Z-List," according to the sources. Those employees typically get an early signal about their status with a disappointing bonus in January.
Many poor performers tend to quit ahead of layoffs and seek other jobs, the sources said. The rest are eventually let go.
The company's review process is legendary on Wall Street, according to Steven Gerbel, founder of Chicago Capital Management, a hedge fund that has used Goldman as a brokerage for several years. He likens it to the "Six Sigma" quality control process first established by Motorola.
Goldman shares fell 60 cents to $155.15 in after-hours trading.
Source: reuters.com
---------------------------------------------------------------------------------------------------
it's like if you don't know what you are doing why da heck are you even trading... oh wait how can you know or do you just bet and get lucky?
No comments:
Post a Comment