- David Solomon, Goldman Sachs CEO, said that 65% percent of their workers are back in work five days a semaine.
- CNBC interviewed him about the importance of young workers entering the workplace in their 20s.
- After two years of remote work, there is a debate about bringing back the workforce to the office.
Wall Street titan Goldman Sachs has managed to get about two-thirds of its staff back to the office five days a week, David Solomon, the CEO of the bank, told CNBCTuesday
“Before the pandemic about 75% of our employees were present in the office at any given time on any given weekday. It’s now about 65% so we’re kinda operating close to what we were,” Solomon said to CNBC according to a transcript.
Solomon spoke to the network just days later He confirmed a restructuringDuring the bank’s most recent earnings call, it also reported that it had a Third-quarter profit slumps by 44%The Wall Street Journal reportsMonday’s bank will merge its trading and investment banking divisions, while asset and wealth management would also be merged.
He is not a fan remote work, which companies were forced to implement during the pandemic. He stated that the remote work was an “abnormality” and that he would correct it as soon as possible in 2021. Bloomberg reported. “This isn’t ideal for us, and it’s certainly not a new standard,” he stated at the time.
CNBC spoke with him on Tuesday about the importance of young workers entering the workplace in their 20s. “Fifty percent of our employees are in their 20s,” he said. He said that they come to Goldman Sachs to “learn, to meet people and to interact.”
Solomon indicated that he was not against flexibility for workers, especially if they have more responsibilities like children.
“I don’t want to be governed. I want a culture in which we are able to serve our clients and show up. We work hard. He told CNBC that he mentored his people and taught them how to be successful.
Corporate America has split over remote work
Solomon’s remarks were made amid ongoing corporate America debate about bringing back the workforce after two years of remote work caused by the pandemic.
Many corporate leaders are actively trying to get remote workers back into the office.
Starbucks CEO Howard SchultzIn June, he stated that he was doing everything he could to get the staff to return to his office. Tesla CEO Elon MuskIn May, the executive staff was given an ultimatum. They were told to either return to work or quit.
Overall, employees are still not coming back to the office in full force. According to data from, the US office occupancy rate was 49% at October 17 according to figures from Kastle Systems an office security firm. This is the highest attendance rate since the pandemic began, but it’s still not nearly 100%. February 2020, early March before the pandemic, the data indicated.
As the economic outlook becomes more dark, this situation could change.
Stephen Ross is a real estate tycoon told BloombergEmployees might return to work in June if they are worried about their job security, especially if the US is experiencing a recession.
