CNBC’s Jim Cramer went off Friday on young Goldman Sachs associates who recently complained about tough work schedules.
Cramer addressed a recent workplace survey that found about a dozen young associates at the bank and financial services company say they are enduring long hours. Those surveyed also said they suffer from a lack of sleep and “inhumane” treatment. The CNBC host, who used to work at Goldman Sachs, ripped the associates and said their complaints were “pathetic.”
“I think it’s a shame,” Cramer said on “Squawk Box” Friday. “They’re talking about how they only get to sleep five hours – I used to teach classes at 11’o clock on Friday night for associates and I did that because I really didn’t think that sleep was that important. So now they’re grousing about five hours? I mean, that is like – why don’t they just take naps during the day? I mean, this is ridiculous!”
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“Give me a break!” Cramer continued. “You go to Goldman Sachs because of the deal you make! You can make the money and then you can go do something great! Five hours that’s all they get to sleep, that was pathetic. They shouldn’t – they should not be sleeping five hours!”
Cramer continued on to explain that he used to go into the office every day at 4:00 and was “disappointed” at any associate who came to work after him. “Squawk Box” co-host Andrew Ross Sorkin then chimed in and noted that “this is the great debate happening on Wall Street right now.”
“You have a whole younger generation saying, you know, ‘We’re being hazed by an older generation,'” Sorkin explained. “One saying they’re enlightened, others saying they’re something else, I mean it’s – this is it.” (RELATED: CNBC’s ‘Squawk Box’ Devolves Into Massive Fight Over COVID-19 Lockdowns)
Cramer shook his head in agreement and apparent shock at the situation before continuing on to reminisce about his time working at the company.
“Shame is what makes a good Goldman Sachs associate!” Cramer declared before the show went to break.