Citadel CEO says remote work makes it easier to fire people

If your boss doesn’t know you personally, they won’t stick their neck out to save your job.

Transcript

00:00 Citadel CEO Ken Griffin says remote work has made it easier to fire people.

00:03 He said, "In a semi or fully remote work environment, the cultural or social contract

00:08 that holds people together is unquestionably weaker."

00:10 He told the Citadel Securities Global Macro Conference that it worries him in terms of

00:14 willingness of corporate America to make cuts in the workforce.

00:17 This year, we've seen an era of remote layoffs, according to experts.

00:20 Saying goodbye to some employees over email or Zoom can be less daunting than breaking

00:24 the news in person.

00:25 And some argue that if your boss never got to know you personally, they won't be inclined

00:28 to go the extra mile to keep you around.

00:30 In a 2022 survey conducted by Prezi, over two-thirds of professionals said they believed

00:34 in-person workers get preferential treatment.

00:37 And for Griffin, he said in-person work is really powerful and thinks early career workers

00:40 are making a grave mistake not being back at work.