The survey detailed brutal working conditions at the premier investment bank, including employees’ health concerns about working more than 100 hours a week, as well as more mundane issues like junior bankers being ignored in meetings. Citigroup launches Zoom-free Fridays to ease pandemic fatigue 24 March 2021 Coronavirus pandemic Getty Images Video calls have become commonplace for many while working remotely during the. The Citigroup memo was sent the day after Goldman Sachs CEO David Solomon was forced to address his staff after an internal survey of first-year analysts, reported by CNBC last week, went viral. Since a return to any kind of new normal is still a few months away for many of us, we need to reset some of our working practices.” ″The blurring of lines between home and work and the relentlessness of the pandemic workday have taken a toll on our well-being,” Fraser said in the memo. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity review Accessibility at Citi. On Monday, Goldman Sachs CEO announced a number of measures the bank would take to address these concerns, including shifting bankers from other divisions to the busiest teams in the investment bank and hiring more junior bankers.Citigroup CEO Jane Fraser told staff that she is banning internal video calls on Fridays, encouraging staff to set boundaries for a healthier work-life balance and instituting a firmwide holiday called Citi Reset Day as Covid pandemic fatigue takes a toll on employees.įraser, who took over for predecessor Mike Corbat this month, told staff of the changes in a memo sent Monday afternoon to her 210,000 employees around the world, according to a person with knowledge of the matter. and its subsidiaries ('Citi') invite all qualified interested applicants to apply for career opportunities. Last week, an internal survey at Goldman Sachs circulated online showed junior bankers were working an average of 95 hours a week. The CEO also encouraged employees to take their vacations, while the company announced a firm-wide holiday on May 28.Ĭitigroup also said that post-pandemic, a majority of the roles at the bank would be designated as "Hybrid", allowing employees to work from the office at least three days a week and from home for up to two days a week. "It's simply not sustainable."Īny internal meetings on Fridays would happen as audio-only calls, according to the memo. "I know from your feedback and my own experience, the blurring of lines between home and work and the relentlessness of the pandemic workday have taken a toll on our well-being," Chief Executive Officer Jane Fraser said in a memo seen by Reuters on Tuesday.
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