Some men buy sports cars. Others have affairs. The Goldman Sachs CEO marked his midlife crisis by becoming a DJ. Now the bank is calling time on their chief executive’s moonlighting.

The lowdown

• ✂️ LinkedIn lays off 668 employees – more than 3% of its workforce – in the second round of job cuts this year.

• 🪓 Rolls-Royce is set to ax 2,500 jobs in a bid to cut costs.

• 🤖 China’s Baidu unveils the latest version of its Ernie AI model, saying it’s as powerful as OpenAI’s GPT-4.

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Goldman Sachs’s CEO calls time on his DJing career

If you were at Lollapalooza last year, you might have caught a set from DJ D-Sol. Like many up-and-coming DJs, he juggles his musical career with a day job. But it’s not just any day job. DJ D-Sol is also David Solomon, CEO of Goldman Sachs.

When Solomon first took the top job, his DJing was seen as a bit of fun – a way to soften the image of one of the most demonized people in the world. But his hobby has drawn heat from Goldman’s board, and now he’s reportedly given it up for good ($).

Sources tell the FT Solomon stopped DJing at high-profile events about a year ago because it generated unwanted media attention. In 2019, he performed at Tomorrowland, a Belgian festival known for its drug culture, and during the pandemic Solomon DJed at an event that was criticized for flouting social distancing rules.

Above all, things aren’t going brilliantly at Goldman. The bank reported its lowest quarterly profit in three years in Q2. Probably a good time to focus on the day job.

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Off-balance sheet items

• The latest Gen Z trend is… going for walks.

The bottom line