UNITED STATES: Walt Disney Co. (DIS.N) is asking its employees to return to company offices for four days a week from the start of March, as per an internal memo.
Bob Iger, Disney’s CEO, said in the memo that “employees currently working in a hybrid fashion will be asked to spend four days a week on-site, targeting Monday through Thursday as in-person workdays.”
Highlighting his perspective that face-to-face interaction is key for “a creative business like ours,” Iger’s statement from the memo reads, “It is my belief that working together more in person will benefit the company’s creativity, culture, and our employees’ careers.”
“Nothing can replace the ability to connect, observe, and create with peers that comes from being physically together, nor the opportunity to grow professionally by learning from leaders and mentors,” the statement continues.
The move comes two months after Iger’s unexpected return as Disney’s CEO, replacing Bob Chapek in November.
Iger, who previously headed Disney for 15 years, was brought back by the company’s board in less than a year following his retirement as chairman in 2021.
His surprise comeback was to steer the company through a challenging phase after its stock price fell and the Disney+ streaming business continued to operate at a deficit in Disney’s endeavour to gain profits on streaming units and boost investor confidence.
The COVID-19 pandemic prompted companies all over the world to adopt work-from-home or hybrid work models in an effort to stop the virus from spreading.
Nowadays, a lot of big businesses—including Disney—are clamping down on flexible hybrid or work-from-home models.
In addition, US companies such as Snap, Tesla, and Goldman Sachs have requested their employees return to the office, while many other firms are still stuck with the hybrid model.
In September, Apple instructed employees to return to the office three days per week, while Elon Musk, the owner of Twitter, instructed nearly all of his staff to report to work five days per week in November.
A UK study found that while lengthy hours are still viewed as necessary for career advancement, the majority of managers believe flexible working increases productivity.
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