Goldman Sacks just announced their employees come in five days a week.
21 replies (most recent on top)
Excuse me but it is Goldman "Sachs"and you are very wrong..My brother is an Exec for Goldman Sachs in NYC and they are still working virtual as he takes the ferry to work 2 -3 days a week and works from home other days.
Goldman S-u-x and their globalist allies are controlled by the same “ma$ters”. This bunch are the epitome of wickedness & evil.
"Housing prices and rent so high due to supposed housing shortages. How about converting some of these empty commercial office buildings into apartments and condos. Long term income stream."
This will happen eventually. Can't stop progress. You can slow it down ... but you can't stop it and life, society, and norms will evolve with or without you. (You, being all the pro-RTO fools out there, whether C-suite or misguided, jealous field techs.)
And so they will severely reduce their talent pool and accelerate turnover.
They could do there, what they are doing in downtown Dallas. Because primary parking is already full. Having employees park 2 miles away and then catching a shuttle to take you back and forth from the parking lot to the work building.
Well we ran out of parking spots in Alpharetta so there’s that. More desks than parking, so 5 days definitely will not work there 😂
"Boomers can’t stand WFH."
Hey, don't speak for us all. This boomer can't stand the idea of the wasteful back and forth to an office, two, three, or any times per week.
Anyway it's about costs and vested real estate, not productivity.
"Institutional investors and large corporations with a significant investment in commercial real estate have a huge financial exposure with these empty buildings."
Housing prices and rent so high due to supposed housing shortages. How about converting some of these empty commercial office buildings into apartments and condos. Long term income stream.
Why do you care what other companies do?
Our VP says he’s not going to pay attention to reports. Our SVP says we better pay attention.
Who knows if there will really be equal treatment when it comes to compliance of this mandate.
The change in policy from WFH to RTO has very little to do with worker age or generational differences. CEO’s across the world are in agreement, they will support each others agendas.
Institutional investors and large corporations with a significant investment in commercial real estate have a huge financial exposure with these empty buildings.
Search your browser for “best articles on commercial real estate 2023”. Fortune magazine article May 2023. “Retail properties including malls were the most troubled type of real estate, with nearly $23 billion of distressed assets tied to the sector. About $18 billion of office buildings were considered distressed at the end of March, according to the report.”
The buyers of commercial real estate typically finance 90+% of their loans, most are short term financing, having to refinance at the current rates is a huge debt problem. The owners have no tenants paying rent, multiply that times multiple properties and you have a looming disaster. Any crash of the commercial market impacts these large portfolio investment companies. As in most disruptive changes, follow the money.
AT&T is betting the older worker will not relocate but will stay in place long enough to train their Dallas/Atlanta replacement.
John Stankey made it clear, AT&T wants a younger workforce. His direct reports are giving him a good news story about automation, AI etc. Because he, like most CEO types, are narcissists they think every idea they have is excellent and the sycophants that work for him want to keep him sweet so they will agree. Any missteps are attributed to those below that did not understand his “vision “. I remember one of those meetings where Randall Stephenson was giving an update and saying to the audience and those of us viewing on the webcast “do you have any idea how wonderful it is to have this much capital/cash available?” The man was on the edge of his seat excited and look what he did with that cash.
There is not one single solution, each of us has to weigh the pros and cons. Be deliberate in looking at your options and map out various outcomes. All the best to you.
Can they do that?
Goldman is the top of the globalist pyramid. What they do, everyone else will be forced to do. It will not stop the CRE collapse. A lot of bankruptcies in commercial real estate are coming.
Goldman Sachs is desperately trying (and failing) to get out of the Apple Card contract, so the next best thing is to sc--w over your employees as a cost-cutting measure.
Don’t worry folks, we will be there too.
Only those of color. Those of no color are fired. It's their new dei program, called " color me happy". Hot new trend.
Boomers can’t stand WFH.
Goldman doesn't want commercial real estate sector to collapse
And they are all collocated in one area, make way more than ATT employees and generally would need to be in an office to do their jobs. Many of us just sit in the office, talk to no one, teammates and people we work with are spread all over, and have to be in teams calls all day. So your point is? Apples and oranges.
Oh, I'm sure we can expect to see many more. It's clearly a war on WFH unfolding right before our eyes. Why now? Who's pulling the strings? I'll stay away from theories, but at this point only a complete f00l won't realize it's not accidental or coincidental.
They have wanted to do this for a while. Leadership never liked WFH and you can expect to see many other companies in requiring 5 days in office.