Citigroup CEO Announces Ban of Friday Internal Zoom Calls
Fraser hopes that this initiative will encourage employees to establish a healthier work-life balance and calling it "Citi Reset Day." The firm felt the need to address this issue as pandemic fatigue weighs on employees. Fraser recently assumed the role of Chief Executive from Mike Corbat earlier this month. Fraser informed all 210,000 global employees of Citi Reset Day in a memo on Monday.
**″**The blurring of lines between home and work and the relentlessness of the pandemic workday have taken a toll on our well-being,” Fraser said. “It’s simply not sustainable. Since a return to any kind of new normal is still a few months away for many of us, we need to reset some of our working practices.”
The memo could be tied to the response Goldman Sachs received when an internal survey revealed harsh working conditions for first-year analysts. Citi employees will still be required to meet with clients and regulators on Fridays but can conduct employee meetings over the phone to provide a small break from non-stop video conferencing.
“When our work regularly spills over into nights, very early mornings and weekends, it can prevent us from recharging fully, and that isn’t good for you nor, ultimately, for Citi,” Fraser said. Fraser also touched on what work will look like once the pandemic subsides. Most employees will start as hybrid workers, spending three days a week in the office and two days at home.
The pandemic “has opened doors to new ways of working and shown that we are able to adapt to and even flourish amid adversity,” Fraser said. “Nothing should stop us from building a bank that wins, a bank that champions excellence and a bank with a soul.”