Citigroup CEO Jane Fraser sent her 210,000 employees worldwide a memo last month about the new policy and also noted that the bank had created a companywide holiday, Citi Reset Day, on May 28. Fraser ascended to the CEO role in March, replacing Mike Corbat.
″The blurring of lines between home and work and the relentlessness of the pandemic workday have taken a toll on our well-being,” Fraser noted in the memo. “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."
Employees will still have to hold Zoom meetings with clients and regulators on Fridays, but can conduct any work with their colleagues over the telephone. For the Citi Reset Day holiday on May 28, Fraser encouraged workers to conduct phone calls only during what has been viewed as traditional working hours.
“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.