COMMUNITY / Issues / THE FOREIGN ELEMENT

Whatever happened to the Goldman Sachs union?

Story lapped up by the media vanished without a trace as sacked Japan employees cut a deal

Squids in: Goldman Sachs Japan Employee Union members demonstrate with the Vampire Squid character, representing the investment banking giant, during a rally in Tokyo in March 2012. After courting publicity with stunts like these, the union quietly disbanded after reaching a settlement with the company. | COURTESY OF LANGLEY ESQUIRE

By Patrick Budmar

Apr 9, 2013

In February 2012, a small band of sacked workers in Japan took on one of the world's biggest investment banks, Goldman Sachs, unionizing in a bid to keep their jobs and win a better deal from a firm they believed had treated them unfairly.

It was a story that struck a chord far beyond these shores, making headlines and sparking water-cooler debate as the world reeled from a financial crisis blamed on corporate greed and reckless risk-taking.

There were those who sympathized with the employees for taking action after Goldman Japan attempted to cut them loose and leave them at the mercy of an unforgiving job market.

Whatever happened to the Goldman Sachs union?

Story lapped up by the media vanished without a trace as sacked Japan employees cut a deal

In your social network

In your inbox

In your social network

In your inbox