Goldman Sachs said to urge staff to work from office five days a week (NYSE:GS)

Goldman Sachs (NYSE:GS) is ramping up its crackdown on employees who have yet to return to the office five days a week, Bloomberg reported Tuesday, a fresh effort to enforce the bank’s policy of returning full time more than three years after the pandemic.

Megabank peers such as JPMorgan Chase (JPM) and Citigroup (C) have been urging staff to comply with their three-days-a-week guidelines. In April, JPM called on managing directors to be in the office five days a week in what ended the hybrid model for that level of company leadership.

The move to enforce stricter policies has been a challenge for much of corporate America as the pandemic fueled a work-from-home trend that’s still going strong. Office attendance was less than half of pre-pandemic levels across 10 of the country’s largest business districts as of early August, according to data from Kastle Systems.

“While there is flexibility when needed, we are simply reminding our employees of our existing policy,” human resources head Jacqueline Arthur said in a statement, Bloomberg reported. “We have continued to encourage employees to work in the office five days a week.”

Source: seekingalpha.com