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Goldman Sachs goes casual for millennials

In this image, two men laugh in the Goldman Sachs booth at the New York Stock Exchange.
The Goldman Sachs booth on the floor of the New York Stock Exchange. Photo: Chris Hondros/Getty Images

Goldman Sachs is the latest Wall Street bank to drop its stuffy dress code in favor of a "flexible" approach likely to appeal to millennials the company is trying to hire, per the FT.

The big picture: This change comes 3 years after a similar pledge by JPMorgan Chase, who realigned to a business casual look in 2016. From Goldman's memo, "Given our firm philosophy and the changing nature of workplaces generally in favor of a more casual environment, we believe this is the right time to move to a firmwide flexible dress code."

Go deeper: People view millennials as "spoiled" and "lazy"