{"id":188801,"date":"2021-02-25T18:44:00","date_gmt":"2021-02-25T15:44:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/goldman-sachs-ceo-working-from-home-is-an-aberration\/"},"modified":"2021-02-25T18:44:00","modified_gmt":"2021-02-25T15:44:00","slug":"goldman-sachs-ceo-working-from-home-is-an-aberration","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/goldman-sachs-ceo-working-from-home-is-an-aberration\/","title":{"rendered":"#\n  Goldman Sachs CEO: Working from home is an \u2018aberration\u2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3be4623ae6a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3be4623ae6a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/goldman-sachs-ceo-working-from-home-is-an-aberration\/#Some_European_banks_have_permanently_overhauled_the_way_their_employees_work\" >Some European banks have permanently overhauled the way their employees work<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/goldman-sachs-ceo-working-from-home-is-an-aberration\/#Lina_Saigol\" >Lina Saigol<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Goldman Sachs CEO: Working from home is an \u2018aberration\u2019<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Some_European_banks_have_permanently_overhauled_the_way_their_employees_work\"><\/span>\n  Some European banks have permanently overhauled the way their employees work<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000178284\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       \u201cThis is not ideal for us and it\u2019s not a new normal.\u201d<\/p>\n<p> That was Goldman Sachs<br \/>\n        GS,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209237603\/composite\" class=\"positive\">+0.45%<\/bg-quote><br \/>\n       Chief Executive David Solomon weighing in on the millions who are working from home right now, speaking at a Credit Suisse conference.<\/p>\n<div class=\"paywall\">\n       \u201cIt\u2019s an aberration that we are going to correct as quickly as possible,\u201d Solomon told the conference on Feb. 24. He said the investment bank had operated throughout most of 2020 with just 10% of its 34,000 employees in the office because of COVID-19.<\/p>\n<p>His comments echo other Wall Street executives who in recent months have cited lost collaboration and an inability to train junior staff members, as staff have remained home for almost a year.<\/p>\n<p><strong>Read: <\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fnlondon.com\/articles\/more-than-half-of-bank-traders-expect-to-stay-home-at-least-four-days-a-week-in-2021-20210209\" class=\"icon none\">More than half of bank traders expect to stay home at least four days a week in 2021<\/a><\/p>\n<p>Barclays<br \/>\n        BARC,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208409333\/delayed\" class=\"positive\">+0.46%<\/bg-quote><br \/>\n       Chief Executive Jes Staley said on Feb 18. \u2014 in a call with journalists accompanying the bank\u2019s annual results \u2014 that working from home was \u201cgetting old\u201d and that the bank would look to repopulate its offices this year.\u00a0<\/p>\n<p>Both Solomon and Staley cited collaboration as a key reason to get deal makers back to offices, which play a role in helping shape corporate culture, especially for new recruits who learn the ropes by working closely with senior colleagues.<\/p>\n<p>\u201cI am very focused on the fact that I don\u2019t want another class of young people arriving at Goldman Sachs in the summer remotely,\u201d Solomon said. <\/p>\n<p>JPMorgan<br \/>\n        JPM,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205971034\/composite\" class=\"positive\">+0.17%<\/bg-quote><br \/>\n       Chief Executive <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fnlondon.com\/articles\/how-are-you-going-to-learn-properly-jpmorgan-ceo-jamie-dimon-warns-over-increasing-negatives-of-working-from-home-20201016\" class=\"icon none\">Jamie Dimon<\/a> made similar comments at a conference in October, saying that the negatives of working from home were felt \u201cmore and more\u201d the longer staff are away from the office. Productivity was reduced and \u201cspontaneous creativity\u201d gained from being in the office together was lost, he added.<\/p>\n<p>\u201cThere are a lot of people who have been hired into our companies who have never been into our company,\u201d Dimon noted. \u201cHow do you build a culture and character? How are you going to learn properly?\u201d<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p><strong>Read: <\/strong>Be prepared: A return to normal is still a long way away, warns banking billionaire Jamie Dimon<\/p>\n<p>Other banks are using the COVID-19 crisis as an opportunity to cut costs and permanently overhaul the way they work. Fifth Third Bancorp<br \/>\n        FITB,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207561596\/composite\" class=\"negative\">-0.76%<\/bg-quote><br \/>\n       said last year that it will cut about 20% of its corporate office space as part of an aggressive plan to reduce expenses by $200 million in the first quarter of 2021.<\/p>\n<p><strong>Read:<\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fnlondon.com\/articles\/societe-generale-offers-uk-staff-up-to-90-of-work-week-at-home-20210218\" class=\"icon none\"> <\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fnlondon.com\/articles\/hsbc-plans-40-office-space-cut-as-covid-shifts-bank-to-flexible-working-20210223\" class=\"icon none\">HSBC plans 40% office space cut as COVID shifts bank to flexible working<\/a><\/p>\n<p>Some European banks have followed suit. HSBC<br \/>\n        HSBA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203901799\/delayed\" class=\"positive\">+2.13%<\/bg-quote><br \/>\n       is cutting its office space by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/HSBC%20plans%2040%%20office%20space%20cut%20as%20Covid%20shifts%20bank%20to%20flexible%20working\" class=\"icon none\">40%<\/a>, its chief executive Noel Quinn told journalists on Feb. 23, saying that the way the bank works would look \u201cvery different\u201d after the crisis. Deutsche Bank<br \/>\n        DB,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203042512\/composite\" class=\"positive\">+4.90%<\/bg-quote><span>,<\/span><br \/>\n       Lloyds Banking Group<br \/>\n        LYG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200709414\/composite\" class=\"\"><\/bg-quote><span>,<\/span><br \/>\n       and Standard Chartered<br \/>\n        STAN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200125072\/delayed\" class=\"negative\">-5.38%<\/bg-quote><br \/>\n       are also considering reducing their real estate footprints.\u00a0<\/p>\n<p>French bank Soci\u00e9t\u00e9 G\u00e9n\u00e9rale<br \/>\n        GLE,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/206663756\/delayed\" class=\"positive\">+3.31%<\/bg-quote><br \/>\n       is offering its 3,600 U.K.-based employees the chance to spend up to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fnlondon.com\/articles\/societe-generale-offers-uk-staff-up-to-90-of-work-week-at-home-20210218\" class=\"icon none\">90% <\/a>of their working week away from the office.<\/p>\n<p>The U.K. government said earlier this week that home working should <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gov.uk\/government\/publications\/covid-19-response-spring-2021\/covid-19-response-spring-2021-summary\" class=\"icon none\">continue<\/a> wherever possible, as it set out a four-step plan to ease England out of its third lockdown.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Lina Saigol\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Lina_Saigol\"><\/span>Lina Saigol<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D2B86CD5D637%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Goldman Sachs CEO: Working from home is an \u2018aberration\u2019 &#8221; Some European banks have permanently overhauled the way their employees work \u201cThis is not ideal for us and it\u2019s not a new normal.\u201d That was Goldman Sachs GS, +0.45% Chief Executive David Solomon weighing in on the millions who are working from home right&#8230;<\/p>\n","protected":false},"author":1,"featured_media":188802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-188801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/188801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=188801"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/188801\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/188802"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=188801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=188801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=188801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}