Empty trading floors a sign of the times

Empty Coca Cola Can

A sign of the declining expectations for growth in the industry.

When Goldman Sachs moved into its new tower near the Hudson River in 2009, the sprawling trading desks on the fourth, fifth and sixth floors were some of the most active and lucrative in the world.

The New York Times reports that now, nearly six years later, the glass-walled sixth floor — stretching much of a city block — has become something of a ghost town, all but empty save for a few still-occupied offices. Goldman’s trimmed-down trading operations are now consolidated on two floors instead of three.

The emptying out of the sixth floor this year is a sign of the declining expectations for growth in a financial industry that is being challenged by new regulations and quickly changing technology that is making fewer traders necessary. 

To access the complete New York Times article hit the link below:

Empty Floor at Goldman Puts Change on Display

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