'You can see': Citi CEO details how the bank handles productivity amid hybrid work

DAVOS, Switzerland — Citi employees working remotely better be cranking on those spreadsheets, because CEO Jane Fraser is assessing the productivity data she is being provided.

“You can see how productive someone is or isn't, and if they’re not being productive, we bring them back to the office, or back to the site, and we give them the coaching they need until they bring the productivity back up again," Fraser reportedly said at a Bloomberg event this week at the World Economic Forum. Bloomberg first reported Fraser's comments.

A source tells Yahoo Finance that Fraser was providing a counter to BlackRock CEO Larry Fink's take that at-home workers were unproductive. Fraser remains a strong advocate for a work from home approach, the source added.

Fraser generally went the opposite direction of her Wall Street peers on hybrid work, focusing on flexibility first. Most Citi employees are expected to be in the office at least three days a week and can work from home otherwise.

“There’s an important balance here," Fraser added at the event. "We’re going to have keep listening to our people and getting that balance right but if you don’t listen to them, you’re in danger of having some problems."

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The well-regarded CEO isn't alone in questioning aspects of the remote work movement that erupted during the pandemic as 2023 kicks off and recession fears swirl.

Disney will demand employees return to the office four days a week, starting March 1, in a bid to bolster an eight-year low stock price.

“As you’ve heard me say many times, creativity is the heart and soul of who we are and what we do at Disney,” Disney CEO Bob Iger said in a memo to employees obtained by The New York Times. “And in a creative business like ours, nothing can replace the ability to connect, observe and create with peers that comes from being physically together.”

Starting January 30, Starbucks corporate employees within driving distance to the company's Seattle HQ must be in the office at least three days a week.

In a memo to employees, CEO Howard Schultz said the action is designed to “rebuild our connection to each other and synchronize teams and efforts."

And starting at the end of February, Snap will require employees work from any its 30 offices worldwide 80% of the time. The figure nets out to being in the office at least four days a week.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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