Remote Work Weakens Company-Employee Bond, Facilitates Layoffs: Citadel CEO

Ken Griffin Predicts Rise in Unemployment Amid Push for Office Return

Citadel CEO Ken Griffin warns that remote work weakens the 'social contract' between companies and employees, making it easier for companies to lay off workers.
Griffin predicts that the unemployment rate will rise from 3.9% to the low 4s next year due to the impact of remote work on layoffs.
Griffin's comments come amid a growing push from major companies for employees to return to the office, with firms like Amazon and Meta requiring in-office presence at least three days a week.
Despite the push for office return, many companies are reducing their office space, with 75% planning to cut down on square footage in the next year, according to a survey by Robin Powered.
Griffin also highlighted the issue of 'Zoom firings', where companies lay off employees over video calls, as an example of the weakening bond between companies and their remote employees.