The boss of a top Wall Street financial firm on Thursday pressured employees to leave the “silo of the lonely house” and return to the office.
Jefferies CEO Richard Handler suggested the company takes a lighter approach than other companies by not tracking office attendance and allowing employees to work from home occasionally.
However, Handler stressed that the investment banking firm hopes senior staff will return to its headquarters at 520 Madison Street in Midtown in the coming days.
“As long as Covid remains manageable, we must all consistently return to the office so that we can truly maximize our fourth and final quarter and beyond,” Handler said in a memo to staff. I was. “We need seniors so that we can develop motivated and influential juniors.”
“I’m not going to look up individual names for turnstiles. If you need to go with a hybrid solution, that’s perfectly fine,” Handler added. “Let’s all thank each other for doing our best to end this year the right way instead of being in a lonely home silo.”
The Washington Post reached out to Jeffries for further comment on its work-from-home policy.
The investment banking firm joined other Wall Street powerhouses in pushing its return-to-office plans following the Labor Day break, but met resistance from younger staff accustomed to the flexibility offered by remote work. had.
As The Post reported earlier this week, Goldman Sachs sent a memo to employees this week revealing it had lifted all COVID-19 protocols, including vaccine and mask requirements. notified employees that they would be on site five days a week after Labor Day. Morgan Stanley also sent a similar memo, Fox reports.
Meanwhile, sources say JPMorgan Chase boss Jamie Dimon has quietly told senior management that he expects employees to be at their desks five days a week, but the company’s official The policy requires me to be on site three days a week.
Employees are increasingly concerned that office attendance could be a factor if the recession freezes or ultimately cuts jobs.
“The concern is that if people don’t have their seat five days a week, that seat may be moved from our team,” a source close to the situation told The Post. . “If someone isn’t there, it would be a pretty easy decision to fire them first.”
Plans to return to the office are a hotly debated topic in the corporate world. Earlier this month, the writer Malcolm Gladwell faced widespread criticism after he claimed to support on-site work.