There are few places on the planet where you can still reliably find Men Getting Dressed in well-tailored suits and hard-bottom shoes. But the last remaining bastions were investment banks like Goldman Sachs, which built up a reputation as the kind of place where (mostly male) masters of the universe flaunted Giorgio Armani suits and $700 Gucci horsebit loafers that were so omnipresent on Wall Street they earned the nickname “Deal Sleds.” Today, though, Goldman Sachs sent out a memo to its employees instituting a new, more relaxed dress code across the company, Bloomberg reports. Call it the new Black Tuesday. “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,” the email sent from Goldman Sachs leadership reads. Granted, GS was already moving in this direction before today’s announcement. A relatively new San Francisco-based office home to GS’s engineering team adopted the denim and T-shirt uniform of its Silicon Valley neighbors. And a banker at Goldman tells GQ that the dress code naturally loosened up over the years. “It probably won’t change much but it’s nice,” they say. “All the men are psyched.” Read more at GQ.
Further evidence of the demise of the tailored dress wear a segment of the business