{"id":51845,"date":"2023-08-23T02:55:56","date_gmt":"2023-08-23T06:55:56","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/goldman-sachs-cancels-summer-fridays-wants-employees-in-office-5-days-a-week\/"},"modified":"2023-08-23T02:55:59","modified_gmt":"2023-08-23T06:55:59","slug":"goldman-sachs-cancels-summer-fridays-wants-employees-in-office-5-days-a-week","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51845","title":{"rendered":"Goldman Sachs cancels \u2018Summer Fridays,\u2019 wants employees in office 5 days a week"},"content":{"rendered":"
\n

Goldman Sachs boss David Solomon, who has drawn derision from the rank-and-file over the company\u2019s back-to-work edict, has pulled the plug on \u201cSummer Fridays.\u201d<\/p>\n

The Wall Street investment giant recently told staffers the firm will crack down on those who aren\u2019t at their desks five days a week.<\/p>\n

\n

\u201cWhile there is flexibility when needed, we are simply reminding our employees of our existing policy,\u201d human resources chief Jacqueline Arthur said in a statement to The Post.<\/p>\n

\u201cWe have continued to encourage employees to work in the office five days a week.\u201d<\/p>\n

The renewed emphasis comes as Goldman\u2019s
\n GS,
\n -1.02%<\/bg-quote>
\n Wall Street headquarters was described as \u201ctotally dead\u201d on Fridays now that interns have gone and a large number of employees opt to work remotely to get an early start on the weekend, sources told The Post.\u00a0<\/p>\n

Solomon, who has been\u00a0dogged by critical coverage\u00a0as the bank\u2019s profits have sagged this year, has taken great pride in bringing employees back to the office.<\/p>\n

However, the prodding right before Labor Day didn\u2019t sit well with many of the firm\u2019s workers.<\/p>\n

\u201cI think David\u2019s really missing (another) trick if he thinks sending out that five-day note at this point will gain friends,\u201d one employee who insisted he has no plans to follow the policy told The Post.<\/p>\n

Other sources said it was aggravating that strict attendance would be such a priority when the morale at the bank is already so dismal.\u00a0<\/p>\n

Others noted that Goldman\u2019s relatively high attendance \u2014 compared to other banks like Citi
\n C,
\n -2.50%<\/bg-quote>
\n and JPMorgan
\n JPM,
\n -2.07%<\/bg-quote>
\n \u2014 hasn\u2019t seemed to benefit the company.<\/p>\n

Goldman, whose earnings were down 58% in the most recent quarter, faces multiple investigations into its disastrous handling of advising Silicon Valley Bank before its collapse, took a drastic write-down of its Greensky acquisition and is considering a sale of its\u00a0investment advisory\u00a0unit.<\/p>\n

Another source said the push from top management was unnecessary since most employees were likely to return on their own accord after Labor Day.<\/p>\n

This report originally appeared on NYPost.com.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Goldman Sachs boss David Solomon, who has drawn derision from the rank-and-file over the company\u2019s back-to-work edict, has pulled the plug on \u201cSummer Fridays.\u201d The Wall Street investment giant recently told staffers the firm will crack down on those who aren\u2019t at their desks five days a week. \u201cWhile there is flexibility when needed, we […]<\/p>\n","protected":false},"author":1,"featured_media":51846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-51845","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nGoldman Sachs cancels \u2018Summer Fridays,\u2019 wants employees in office 5 days a week | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Goldman Sachs boss David Solomon, who has drawn derision from the rank-and-file 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