Goldman Sachs Reduces Intern Workday To 17 Hours

| by Michael Allen

Goldman Sachs recently announced that it will not allow its summer investment banking interns to work more than 17 hours per day.

Reuters reports that the Wall Street investment firm will not allow interns to work from midnight to 7:00 a.m.

Moritz Erhardt, an intern for Bank of America in London, died in a shower after working 72 hours in August 2013.

Erhardt passed away from an epileptic seizure that was linked to his long hours of work, but the bank claimed not to know about his epilepsy, reported NBC News.

Erhardt, 21, worked all-nighters often in order to gain favor with his bosses and was due to be offered a job, noted The Guardian.

The New York Times reported in 2014, "In January, Bank of America Merrill Lynch told its junior bankers to take four weekend days off a month. Credit Suisse and Citigroup have urged their analysts and associates not to work on Saturdays. Last year, Goldman Sachs recommended that its analysts take weekends off whenever possible, and JPMorgan Chase announced an initiative to ensure that young staff members would have one 'protected weekend' every month."

Sources: The Guardian, Reuters, NBC News, The New York Times
Image Credit: Häggström, Mikael. "Medical gallery of Mikael Häggström 2014". Wikiversity Journal of Medicine 1 (2). DOI:10.15347/wjm/2014.008. ISSN 20018762.