While Spain considers shortening the work week for employees down to four, or roughly 32 hours per week,Wall Street executives are looking for ways to cut their young staffers work week down too.
To something less than 100 hours or so they are currently working.
It’s a tough job, but most young, hungry stars that get coveted jobs with big investment banks on Wall Street know what they are signing up for.
But 100+ hours in a week is excessive and unhealthy, and Citigroup CEO Jane Fraser is trying to do something about it. Or at least look like she’s doing something about it.
She instituted a new “Zoom-Free Fridays” policy for employees as they work from home.
Now, before these employees start scheduling long lunches and manicures for their Fridays, it’s not like she’s giving workers the day off. No, this is simply to try to get rid of Zoom fatigue, but the calls and meetings will go on, they will just be on the phone.
Oh, and this new decree is only for internal calls with co-workers. Communications with regulators and clients will still have to include video.
Fraser is also showing how important it is to actually use vacation days, and will lead by example by taking a few days off at the end of the month.
She also instituted her power to create holidays out of thin air, as she declared that May 28th going forward will now be known as “Citi Reset Day.”
Citi also plans to dump the work from home culture that took over most companies during the pandemic, and actually use those big, gleaming office buildings they pay obscenely high rent on in Lower Manhattan.