Posted on 01/17/2023 2:52:27 PM PST by dennisw
Jane Fraser said that it was important for employees to collaborate Other Wall Street bosses have expressed frustration at staff working from home Ms Fraser is more open to idea of flexible working than other banking bosses
But, at the World Economic Forum in Davos, she said a line had to be drawn Larry Fink, of BlackRock, simply said that ‘remote working has not worked'
The British boss of Wall Street banking giant Citigroup yesterday warned that slackers working from home will be hauled back to the office for coaching.
Jane Fraser said that it was important for employees to collaborate together and learn from ‘eccentrics’ in the workplace as she did.
Other Wall Street bosses have expressed frustration at staff continuing to stay away since the pandemic, with one saying the practice ‘has not worked’.
Ms Fraser has been more open to the idea of flexible working than other New York banking bosses, but she made clear that a line had to be drawn.
Larry Fink, chief executive of BlackRock, the world’s biggest asset manager, was more forthright when he spoke at the same event, hosted by Bloomberg.
He said: ‘Remote working has not worked.’
Citi is based in New York but has offices across the world including a large presence in London where it employs more than 6,000 people.
Morgan Stanley chairman James Gorman told staff in 2021 that if they wanted to earn New York wages they must work in the city.
Ms Fraser has tended to take a less hardline approach and last month the bank said most employees could work from anywhere for the final two weeks of the year.
(Excerpt) Read more at dailymail.co.uk ...
How about slackers should be fired and they hire someone who is responsible. and actually does their work without their hands being held?
And I realize how difficult that is these days.
Brick and mortar is overrated and completely unnecessary for a large amount of jobs. Especially these days with computers. Execs just like it because of kingdom building and making people think that they are busy.
On a train out of Manhattan now. People standing up. Most crowded I’ve seen it since 2020. Lot of suits too. It’s coming back.
But what about The Climate?
Bill Lumberg is PISSED no one is in the office!
in a few more years, corporate memories across the country will be wiped clean...
“Work from home” has a lot in common with “From each according to their ability, to each according to their need.”
It goes against human nature.
By the sweat of their brow shall they live (in the office).
I doubt these Davos turds care about productivity. I suspect they have motives nonaligned with freedom and capitalism. Perhaps they want to shove people into urban centers and fire the rest.
Block pornhub and Netflix too
I get a lot more done when I’m at home vs when I’m in the office.
Middle managers want people back in the office to justify their “management” salaries.
Nah. I’m actually FAR more productive WAH than I’d ever be WAO.
I was actually WAH two years before Covid.
I know a person in charge of folks in scientific journalism.
The employees are a bunch of anti-social geeks who work much better when left alone at home.
I suppose a lot of Wall Street jobs would attract more social people who would not do well on their own.
A little secret.....Half the federal government workforce isn’t at their place of employment. The library director for Minneapolis works out of his home in SanDiego. For gawds sake, stop stealing wages for work you ain’t doing.
Workers who stay home no longer eat at the restaurant chains in commercial districts. They no longer buy office attire at retail stores. They no longer buy gasoline at the same rate for their commute. They no longer pay tolls for city revenue at the same rate.
-PJ
The few shopping malls and golf clubs left would go completely out of business if the government employees actually had to report to an office.
Too late now. You told your employees that working at home was the thing to do whether they wanted to or not. You insisted upon it. The employees found they liked it better than they expected. Now, they don’t want to return to the office. So, either fire them or let them work from home.
My wife has been working remote since the pandemic. She had a 2 hour commute each day to work before. The time she saves not driving she works, which is good, because she and her staff are hopelessly overworked.
If people aren’t being productive , then fire a few of them to scare everyone else . A lot of jobs don’t need to be in offices
Before I retired it was nice to have no traffic too.
I've already gotten the phone call from HR and will start going back to the office three days a week on week #5 from the current one day, which worked well since the summer of 2020.
This is almost exactly five months after they had me in on a project to reduce office and cube space because "work from home was here to stay."
I probably could and should just retire (age 67), but I am curious to see how this plays out. They will suddenly have a crop of new in-person workers coming in for a reduced number of cubes and offices.
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