Goldman Sachs goes casual for millennials

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"