Steve Schwarzman of the Blackstone group said staff want to work from home so they can save money
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 attire.
He’s essentially saying that companies need employees to come work at the office because the real estate investors depend on it.
Question what do the models say will happen if commercial real estate values crash because everyone is wfm? Can it really cause an macro economic issue?
It sounds like they are trying to distribute the impact of their poor decisions onto the workers.