Citigroup CEO Jane Fraser has banned video calls on a Friday and launched a 'Citi Reset Day' holiday to relieve stress on staff
- Citigroup has banned video calls on Fridays, according to a memo seen by Bloomberg.
- CEO Jane Fraser also declared May 28 a company-wide holiday called “Citi Reset Day.”
- “The blurring of lines between home and work … have taken a toll on our well-being,” Fraser wrote.
- See more stories on Insider’s business page.
Citigroup CEO Jane Fraser has banned employees from internal video calls on Fridays in an effort to improve staff well-being, according to a memo seen by Bloomberg on Tuesday.
The final day of the working week is now named “Zoom Free Fridays,” Fraser said in the memo to staff. She also declared May 28 a company-wide holiday, called “Citi Reset Day.”
The bank is also encouraging staff to avoid scheduling meetings outside of normal working hours, according to the memo.
Citi’s ban on video calls and the new company holiday are part of efforts to tackle the stress of work during the pandemic.
“I know, from your feedback and my own experience, the blurring of lines between home and work and the relentlessness of the pandemic workday have taken a toll on our well-being,” Fraser wrote in the memo. “It’s simply not sustainable.”
Insider reached out to Citi for comment, but did not immediately receive a response.
Read more: Citigroup showed us how its Early ID program trains and mentors thousands of diverse candidates every year to help them ace their interviews and land internships at the global bank
Citi’s new policy comes days after junior bankers at Goldman Sachs said in a survey that they were experiencing poor mental health, grueling 100-hour work weeks, and lack of sleep.
“The sleep deprivation, the treatment by senior bankers, the mental and physical stress … I’ve been through foster care and this is arguably worse,” one unnamed banker said in the survey.
In response, CEO David Soloman said the company would work harder to give junior bankers Saturdays off.
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