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Goldman Sachs’s consumer business plans to hire an additional 200 to 300 engineers this year to reduce the workload on the unit’s current employees, the firm has told Insider.

The new hires would add to a consumer technology team that numbers roughly 1,000 people, or about 40% of the unit’s 2,500 employees, Andrew Williams, a Goldman spokesman, said earlier this week.

The new hires are on top of roughly 100 engineers that Goldman hired for the consumer business over the past five months, Williams said. Dozens of technology specialists have already accepted offers or begun onboarding.

The bank also signed a contract this month to bring on 14 cloud engineers “to help address the pressure we have in that space,” Williams said.

“Like any fast-growing organization, we have ambitious plans and constantly consider the right pace of growth,” Williams said. “We continue to listen to feedback from our teams and are significantly accelerating hiring.”

Goldman’s hires come after a pandemic-plagued 2020 that saw a surge in departures and turnover among senior managers in the bank’s consumer business, which houses its Marcus-branded digital bank and partnerships like the Apple Card, Insider reported earlier this week.

The exits came after an intense year of product launches that required long days and overwhelmed employees, as a top-down management culture infiltrated the unit and infringed on the unit’s autonomy, some former employees told Insider.

Last September, Goldman reshuffled its divisional structure to create the consumer and wealth management division. That then became the home of Marcus, Apple Card, and the private wealth business, which is now reaching to mass affluent consumers.

Stephanie Cohen, then the bank’s chief strategy officer, and Tucker York, head of private wealth, were tapped to run the combined business.

The duo is now tackling employee burnout and the cultural breakdown that came from launching so many products over the past year.

The new hires may help Goldman cope with the expected exit of employees who joined the bank three years ago in its purchase of the Clarity Money financial app. The deal came with conditions that required some employees to stick around until the three-year anniversary, which arrives April 15.

And they’ll be tasked with finishing off a number of products that Goldman has yet to launch, including a Marcus checking account and a credit card done in partnership with automaker General Motors, expected to be introduced later this year.