Goldman Sachs Supports Jobs Campaign for London's Youth

London - 26 September 2012 -- Goldman Sachs today became the first business to support a new jobs program in the United Kingdom that aims to help unemployed young adults into work through apprenticeships.  Sponsored by the Evening Standard, the Ladder for London program has launched following the newspaper's three-day front page special report on the plight of young jobless Londoners, in which research showed that one in four people aged 16 to 24 is currently unemployed.

“The Evening Standard’s investigation and campaign is inspirational in highlighting the very real challenges that many young people face in developing skills and finding employment, said Michael Sherwood, vice chairman of The Goldman Sachs Group and co-chief executive officer of Goldman Sachs International. “‪We recognize that one of the key steps in addressing this issue is for employers, including ourselves, to take the initiative by taking on apprentices. As a large firm with significant resources, we believe it is only right that we step up and commit to this campaign and hopefully go some way to helping young people overcome these challenges.”‬

Goldman Sachs has committed to providing ten individuals with one-year apprenticeships across a number of divisions of the firm, including Technology, Operations, Human Capital Management, the Executive Office, Corporate Services & Real Estate and Securities. In addition, apprentices will receive a class-based training program designed to help them develop the professional skills required for the world of work.

Goldman Sachs’ support for Ladder for London builds on a longstanding commitment to enterprise, education, and developing skills. In 2009, Goldman Sachs worked with award-winning social enterprise City Gateway, the Evening Standard’s campaign partner, to increase employment opportunities for Londoners struggling to find work. In 2010, Goldman Sachs helped the Mayor’s Fund launch Young London Working, an initiative designed to connect young people seeking work with potential employers. Goldman Sachs also launched our 10,000 Small Businesses programme in the UK to help create jobs and economic opportunity by providing greater access to business education. 

Read article on Ladder for London: Goldman Sachs to Take First 10 Apprentices for Standard Jobless Campaign