PE Firms Look to End Remote Working

After months of remote working, employees of global private equity firms are now seeking to get back to their offices. Firms, such as Blackstone and Advent International, are paying for taxis and introducing COVID-19 tests to bring staff back to the office.

Ending Remote Working Arrangements

Blackstone has told staff worldwide to avoid public transportation in their commute and is now offering to pay for its workers’ tax fare. Nonetheless, returning to the office remains voluntary.

Similarly, Advent introduced a new commute policy. This policy forbids the use of public transportation. Even though the firm will pay employees’ taxi fares to attend company meetings and events, it refuses to pay for everyday commuting.

Both firms are also implementing a new COVID-19 testing policy…