Goldman Sachs announced that it would relax employee dress code for a more “casual workplace”. Before the change, its employees had to follow a relatively strict dress code of compulsory suits. “We believe this is the right time to move to a firm-wide flexible dress code,” wrote three Goldman Sachs senior executives in an internal memo to staff on 5 March 2019, adding that the “changing nature of workplaces is generally in favour of a more casual environment.” The memo, however, also cautioned that the staff should use “good judgment” in choosing their dress based on the situations.
The Wall Street Giant had already loosened its strict dress code for its tech division staff in 2017, and now it is applying it to all the remaining 36,000 employees. It is the latest Wall Street Bank moving towards a more casual workplace, after JP Morgan had done the same in 2016.