Goldman Sachs is to change its retirement rules in a way that gives long-serving employees an incentive to leave before the end of the year in a move that could add to the 3,000-plus redundancies already announced, according to the Financial Times.

Goldman, which in November said it would reduce its 32,500 workforce by 10 per cent, is to make it harder in 2009 for staff to qualify for its full retirement package. This comes on top of the “departnering” reported in October.

The firm will alter its policy of allowing employees whose combination of age and years of service exceeds 55 to collect all of their restricted stock upon departure, bringing in a “rule of 60”.

Goldman did not immediately return calls when contacted by WealthBriefing.

For many Goldman staff much of their annual bonus is in the form of restricted stock which vests over a three-year period. Employees who go to a competitor or otherwise leave under a cloud forfeit their unvested stock. “Good leavers” keep their restricted stock awards, but must qualify under the “rule of 55”, shortly to be 60.