Goldman Sachs Group Inc., renowned as a steadfast advocate for the resumption of in-office work on
Wall Street, has initiated a concerted endeavor to address compliance issues within its workforce. In line
with its policy, which stipulates a mandatory five-day in-office work week, the esteemed financial
institution is renewing its commitment to upholding this standard. While revenue-generating staff
members have largely embraced a full-time return to the office, senior management has encountered
notable resistance from personnel within other segments, constituting a significant portion of the overall
workforce.
Jacqueline Arthur, the Chief of Human Resources, affirmed, “While occasional flexibility is acknowledged,
our employees are being gently reminded of our prevailing policy. We consistently encourage our staff to
adhere to the practice of working in the office for the entirety of the work week.” Comparable industry
counterparts, including Citigroup Inc. and JPMorgan Chase & Co., have diligently monitored attendance
and proactively encouraged supervisors to enforce their respective guidelines, stipulating a
three-day-a-week office presence for a considerable portion of their staff. Recently, Citigroup
communicated to its employees that non-compliance with attendance mandates could potentially lead
to repercussions, impacting compensation. Meanwhile, JPMorgan communicated to its workforce in
April that managing directors are expected to engage in a daily commute throughout the work week.
According to data provided by Kastle Systems, attendance in ten of the largest U.S. business districts
remained at less than half of the pre-Covid levels as of early August. This statistic remains relatively
unchanged compared to the commencement of 2023, portraying the ongoing endurance of altered work
patterns.
