Some Banks Are Actually Sticking With WFH

There’s a scene in Walter Isaacson’s biography of Elon Musk in which the billionaire angrily discovers just how few workers are on-site at Twitter Inc.’s lavish 11-story headquarters despite its shrinking revenue and widening losses. He orders a burning-hot coffee, bats away fears of deep job cuts (only to carry them out later), and in his first missive to staff bans remote work.

This is how a growing number of bosses have started to see remote work: A pandemic-era “aberration,” a drag on productivity and a potential marker of management complacency at a time of economic slowdown. Banks like Goldman Sachs Group Inc. and JPMorgan Chase & Co. are shouting the loudest about returning to the office, with tech not far behind — maybe because finance and IT are the sectors with the most days worked from home, according to WFH Research.