Does he have any regrets? Sure. He needs he had executed it sooner, apparently.

“Because the setting was rising extra difficult in Q2 of final yr, each bone in my physique believed we ought to be rather more aggressive in slowing hiring and lowering headcount,” Solomon mentioned Sunday at a closed-door gathering with about 400 Goldman Sachs companions in Miami, based on the Monetary Instances.

The financial institution noticed internet earnings tumble by practically half in 2022 in comparison with the yr earlier than. It’s been scrambling to chop prices, with companion bonuses taking a success and using non-public jets coming beneath scrutiny.

On what got here to be recognized internally as “David’s Demolition Day,” a big quantity staff have been let go on Jan. 11. Some staff have been fired after exhibiting up for what they thought was a routine assembly, for which they’d been emailed a calendar invite.

Solomon reportedly mentioned in Miami that the layoffs and cost-cutting would have been much less extreme had he acted sooner, and he took duty for not shifting sooner. 

Solomon has taken warmth for residing a glamorous life amid the financial institution’s woes, main some Goldman Sachs insiders to query his concentrate on main the corporate. Along with hobnobbing with celebrities and taking non-public jets to the Bahamas, he’s recognized to DJ for reside audiences as DJ D-SOL at golf equipment and occasions all over the world.

The board introduced final month that Solomon’s pay for 2022 was $25 million. That was down 29% from 2021, however companions as a bunch noticed their bonuses slashed in half.

Some Goldman Sachs insiders are restive and have mentioned who would possibly substitute Solomon, based on Insider. That hasn’t been helped The Economist operating a cowl story entitled “The humbling of Goldman Sachs” just a few weeks in the past.

In the meantime many staff who have been laid off final month acquired no bonus, a serious chunk of worker pay at Goldman Sachs.  

“I used to be actually trying ahead to that bonus… That might have helped me with a few of my bills with college and issues of that nature that I’m at present paying for,” a former analyst at Goldman’s Salt Lake Metropolis workplace informed Fortune. “All people deserves to get their bonus. Whether or not you have been laid off or not, you deserve it.”

Fortune has reached out to Goldman Sachs for remark.