In February, employees of investment banking firm Goldman Sachs were given a two-week notice that they would need to return to the company’s offices after the recent Omicron wave forced the company to close its doors.
Despite CEO David Solomon’s clear contempt for long-term hybrid or remote work policies, just 50% of the company’s workers returned to its New York headquarters.
Although this number indicates major trouble for Solomon’s campaign to return to pre-pandemic normalcy, a spokesperson for the firm said that the in-person attendance at its headquarters averaged around 60% to 70% over a week, which is close to what its occupancy looked like before the Omicron wave.
The financial industry has been especially keen on returning to the office, as many of these companies feel that in-person interactions, collaboration, and networking are key to driving innovation.
Firms like JPMorgan Chase and Morgan Stanley are also necessitating in-person work, but Citigroup and UBS have embraced flexibility after seeing the benefits this arrangement holds, such as attracting top talent amidst the labor shortage.