The banks are hoping that the Omicron pause is short-lived. But even after Omicron subsides, the companies could find themselves facing a more deep-seated problem. Many of their employees have grown used to more flexible working arrangements and aren’t willing to go back into the office full time. How their return-to-work experiment plays out could set the stage for other white-collar industries.
“You can’t run New York City from home,” Mr. Adams said during a Bloomberg TV interview on Monday. “We must have everyone participate in our financial ecosystem.”