The Citigroup CEO, Jane Fraser, informed the bank’s top executives that the group will maintain the hybrid work scheme. The information is from the newspaper Financial Times.
Citi currently allows most of its employees to work remotely up to two days a week.
According to the newspaper, Fraser’s promise was made in a quarterly connection with the bank’s administrative directors in mid -January. The executive would have said that Citi’s most flexible work requirements offer a competitive advantage.
As a result, Citi is going against their peers on Wall Street, where many banks and funds have forced their employees to return to the office.
Last month, for example, JPMorgan Chase asked its employees with hybrid working hours to return to the office five days a week from March.
JPMorgan Chase CEO Jamie Dimon said that prolonged remote work can cause serious social and economic damage, while Blackrock’s CEO Larry Fink fears that working at home is a lack of productivity and collaboration.
Continues after advertising
On the other hand, critics cited the increase in displacement costs and the lack of flexibility as their main concerns about the return to the offices.
