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Goldman Sachs forces full return to work, ends “Summer Fridays”

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In a bid to restore the traditional office routine, Goldman Sachs CEO David Solomon has decided to terminate the company’s ‘Summer Fridays’ policy, which had allowed employees greater flexibility.

The move is part of the bank’s efforts to bring staff back to the office for a full five-day workweek.

Human resources chief Jacqueline Arthur issued a statement to The Post, stating, “While there is flexibility when needed, we are simply reminding our employees of our existing policy. We have continued to encourage employees to work in the office five days a week.”

This renewed emphasis on in-office work comes as Goldman Sachs’ Wall Street headquarters reportedly appeared “totally dead” on Fridays. This phenomenon occurred after interns had completed their terms, and a significant number of employees opted to work remotely to extend their weekends, as sources have disclosed to The Post.

Solomon, who has faced criticism amid a dip in the bank’s profits this year, has been resolute in his commitment to re-establishing the in-office work culture. However, the timing of the reinforcement of this policy just before Labor Day has raised eyebrows among many of the bank’s employees.

Employee anger

One employee commented, “I think David’s really missing (another) trick if he thinks sending out that five-day note at this point will gain friends.” They asserted that they have no intention of following the new policy.

Additional sources expressed their frustration, questioning the bank’s focus on strict attendance when morale within the organization is reportedly at a low point. They also pointed out that despite Goldman’s comparatively high attendance rates in contrast to other banks like Citi and JPMorgan, it has not translated into a clear benefit for the company.

Goldman Sachs is currently facing multiple challenges, including a 58% drop in earnings in the most recent quarter, investigations into its handling of advising Silicon Valley Bank before its collapse, a significant write-down of its Greensky acquisition, and contemplation of selling its investment advisory unit.

Despite management’s push, many employees are expected to return to the office voluntarily after Labor Day, rendering the heavy-handed approach potentially unnecessary.

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Boeing face delivery delays following guilty criminal charge plea

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Boeing’s deliveries are down after months of controversy, is it because they can’t make the planes, or because airlines right now don’t want them?

Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States in connection with the investigation into two fatal crashes involving its 737 MAX aircraft.

Boeing reported a significant 27% decrease in deliveries for June compared to the same month last year, possibly attributing the decrease to the companies ongoing controversies.

Aviation expert Geoffrey Thomas joins to discuss. #featured

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Blockchain sparks a transformative influence in Australia

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Professor unveils blockchain’s role in transforming the economy and innovative projects taking place at RMIT University.

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, BTC Markets CEO Caroline Bowler interviews Professor Chris Berg, Director of RMIT Digital3 and Co-Founder of the Blockchain Innovation Hub at RMIT University. They discuss RMIT’s cutting-edge projects and the transformative impact of blockchain technology in Australia.

Professor Berg shares insights into RMIT’s Digital3 philosophy, which combines research, innovation, and collaboration to drive the digital economy. Learn about groundbreaking initiatives in blockchain, cyber security, and AI, and how these disruptive technologies are reshaping business, government, and society.

Discover how RMIT is leading the charge in rethinking and regenerating the way we work through world-class research and tailored education, offering a glimpse into the future of technology and its potential to benefit both the economy and society. #crypto corner

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From $25K to $1.5M in real estate: expert unveils game-changing strategy for investors

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Empower your property investing with these key tips

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Dean Fraser, Founder and CEO of BrickFloor. #trending #wyld money

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