Goldman Sachs relaxes dress code in bid to attract tech talent

New talent joining Goldman Sachs may no longer have to max out their credit card while acquiring a full corporate wardrobe before their first day at the office. In an attempt to attract more tech talent, the company has relaxed the dress code for its computer engineers, Reuters reports.

The bank sent an internal memo to employees in its technology division to update them on the more casual rules. It asked employees to "exercise judgment in determining when to adapt to business attire."

About a quarter of the company's 33,000 employees are engineers.

Last year, the 148-year-old investment bank started running recruitment ads on Spotify in a similar attempt to secure talent who might naturally gravitate towards less traditional firms like the ones in Silicon Valley.

Before that, in 2015, the company became the first Wall Street bank to advertise on Snapchat in a bid to appeal to more Millennials.

Goldman Sachs could not immediately be reached for comment.