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Goldman Sachs CEO warns telecommuting is a distortion rather than a new normal

via:CnBeta     time:2021/2/25 1:06:58     readed:127

David Solomon, chief executive of Goldman Sachs Group, reiterated on Wednesday that he would like to see the company's offices full again. "This is not an ideal state for us, nor is it a new normal," Solomon said at a meeting of Credit Suisse Group. "This is an abnormal phenomenon that we need to correct as soon as possible."The 59 year old chief executive has become one of the most outspoken business leaders urging government officials to change rules faster to get employees back to work. He called on them to use private sector support to speed up the process.

Last year, the big Wall Street firms prepared to welcome more employees into the office building, but this effort failed with the surge of new cases. Some people are frustrated by what they believe is a poor vaccination program that delays the recovery from normal conditions.

"The process of vaccine distribution and recovery in the first quarter was slower than some of us had hoped," Solomon said But the government's extra stimulus and the infrastructure bill that may follow will provide "very, very strong momentum" for the economic recovery, he said.

At some point last year, about a quarter of Goldman's employees returned to their offices in New York and London, and as many as half to their Asian offices.

The chief executive of Goldman Sachs stressed that new analysts should formally enter Wall Street by working in the office.

"I'm very concerned about the fact that I don't want a new generation of young people to join Goldman Sachs remotely in the summer," Solomon said

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