< PrevNext > 56. Goldman Sachs New York City Share 2016 U.S.-Booked Air Volume: $74 million2016 Global Air Volume: $212 million2016 U.S. T&E: $127 million2016 Global T&E: $360 millionPrincipal Air Suppliers: American, British Airways, Cathay Pacific, DeltaPrincipal Hotel Suppliers: Hilton, Hyatt, MarriottPrincipal Car Rental Suppliers: Avis, Hertz, NationalPrincipal Online Booking Tool: GetTherePrincipal Card Supplier: American ExpressPrincipal Expense Supplier: Proprietary toolConsolidated Global TMC: Amex GBTWhile the finance company made no changes in suppliers, policies or use of technology in 2016, it managed to reduce its U.S.-point-of-sale air spend by $16 million from the $90 million it spent in 2015. It also cut its U.S. T&E in half purely through demand management. With net revenue declining by nearly $4 billion in 2015 and 2016 to $30.6 billion in 2016, senior management focused on internal cost reductions, and employees responded by becoming more circumspect on spending, particularly for non-client interactions. The travel team helped drive this by reviewing every non-client travel request in the past year. In 2016 and 2017, it also instituted airfare caps on 19 routes and hotel rate limits in London and Hong Kong.In 2016, Goldman Sachs worked on business continuity planning, crisis management resilience and management information capabilities. It also continued optimizing contract usage through point-of-sale initiatives and back-office automation. The company used offsets to support its pledge to be carbon neutral from 2015 onward. Goldman uses an individual bill, central pay card program.Goldman is renegotiating its card contracts with American Express and its travel management company contract with American Express Global Business Travel, all of which expire at the end of 2017. The company implemented Amex GBT Hotel Re-Shop earlier this year and now is piloting the Air Re-Shop Expert tool, both of which are powered by Yapta and rebook cheaper rates. The company is considering changes in ferry service and car rental and other ground transportation services.