In a move that has drawn criticism from employees, Goldman Sachs CEO David Solomon has decided to eliminate Summer Fridays, cracking down on those who choose not to be in the office five days a week. The decision comes as Goldman’s Wall Street headquarters has become somewhat lifeless on Fridays, with interns leaving and many employees opting to work remotely. While Solomon has taken pride in bringing employees back to the office, this latest enforcement has not been well-received by the firm’s workers. “I think David is making a mistake if he believes that this five-day policy will win him any favors at this point,” one employee stated. Others expressed frustration that attendance was being prioritized when employee morale was already low. Interestingly, Goldman’s commitment to high attendance hasn’t seemed to benefit the company, as its recent earnings were down 58%. Additionally, the bank is currently facing multiple investigations into its mishandling of advising Silicon Valley Bank and is considering selling its investment advisory unit. Despite these challenges, some believe that the management’s push for strict attendance is unnecessary, as most employees are likely to return on their own accord after Labor Day.
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