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As a result, unit sales rose in some divisions, while prices did not.
Despite the uptick in earnings, the firm had weaknesses in some divisions and executives struck a cautionary note in its call with analysts.
From 1998 to 2000, turnover in some divisions was as high as a third each year, and the average pay was less than half of what was being offered for comparable jobs in the private sector.
Goldman Sachs, normally a bastion of conservative fashion, has told employees in some divisions they can dress casually on Monday, according to a person with knowledge of the matter who spoke on the condition of anonymity.
He has reduced the risk in some divisions and focused a lot of his energy building Morgan Stanley's wealth management division, which is a lower-risk operation that has the potential to deliver steady returns.
Today, customers in some divisions can place an order on the Web and have production scheduled in seconds.
Similar(48)
Past neglect, he said, led to a situation in which some divisions were understaffed and others, the ones where the doctors who were laid off had worked, were staffed to excess.
"But despite some divisions in the research, policymakers have thought the benefits of raising pay for workers across the bottom of the economy significantly outweighed any tradeoffs.
At 7 00 a.m. the protective bombardment increased in intensity and began to creep forward again, moving at 100 yards in three minutes, as some divisions used battalions from their third brigade and other divisions those already committed.
Yet, Goldman has also named new managers in some crucial divisions recently, which has led to some staffing cuts, whether for strategic or budgetary reasons.
Executives in some Time Warner divisions say they have been told to expect cutbacks, at least in some support areas like the legal and information technology departments and human resources.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com