"The boss of the world’s biggest commercial landlord has accused remote workers
of staying away from the office because it means they “don’t work as hard” and
can save money.
Steve Schwarzman, the chief executive of investment firm the Blackstone group,
made the claims about hybrid staff while speaking on a panel at the Future
Investment Initiative summit in Riyadh, Saudi Arabia.
In remarks first reported by Bloomberg
, he said employees had kept working
from home because “they didn’t work as hard, regardless of what they tell you”
and also due to the savings they make on their daily commute, lunches and work
The continuing vacancies in office buildings in the US were a direct result of
the rise in remote working since the Covid pandemic, Schwarzman added, saying
it was likely firms would cut back on space once their current leases come to
He said some of those properties were “not survivable as economic entities” but
that newer office buildings were proving resilient, while demand for real
estate such as warehouses was on the increase.
The chief executive of Goldman Sachs, David Solomon, told the same panel that
his company’s workers had returned to office working in recent months.
Solomon had previously described remote working as an “aberration” that needed
to be corrected “as soon as possible”. He said that his firm was “by and large,
operating the same way now as it did before the pandemic”.
It was revealed earlier this month that nearly two-thirds of bosses believe
that workers will return to the office five days a week within the next three
years, while a majority of company leaders think pay and promotions could
become linked to workplace attendance, according to a survey."
*** Xanni ***
Chief Scientist, Xanadu
Partner, Glass Wings
Manager, Serious Cybernetics