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Goldman Sachs Tokyo Employees Told to Remain at Desks

March 28, 2011

CNBC Senior Editor John Carney reports that, according to one person familiar with the situation, Goldman Sachs executives flew into Japan last week to speak with nervous ex-pat employees about radiation fears - and to convey this message: don't leave Japan and don't leave Tokyo.

Employees at the investment bank's Japan offices are worried about radiation levels affecting their families, Mr. Carney's contact said.  Many were asking if they could temporarily relocate out of the country or perhaps move to a location in southern Japan, farther away from troubled nuclear power plants.

    Meetings Between Senior Goldman Execss and Tokyo-based Employees.   Several meetings were held last week.  At least one was held in a large conference room in Tokyo at Goldman's offices in Japan.  Senior executives attending the meeting included:  Michael Evans, head of emerging markets and Asia chairman, and Ed Forst, co-head of Goldman's investment management division.  Lloyd Blankfein was testifying at the Galleon insider trial last week. 

"The message was clear: no one is to leave. If you do leave, you can't come back and expect to still work for Goldman," the person said.

The reaction has been mixed. Some employees praised the level of information about radiation levels and safety the firm has communicated to them.  Others objected to the instructions to stay put.  Some employees have decided to relocate their families, the person said.  In any case, the orders to stay put seem to have been effective - another person at Goldman's Tokyo offices said that almost everyone was still in place.  For further details, go to:   [NetNet, 3/28, "Goldman Sachs Employees .."]