SVB employees blame remote work for bank failure
In a story in the Financial Times out Thursday, current and former Silicon Valley Bank employees cited the bank's commitment to remote work as one reason for its failure.
Why it matters: In the aftermath of the collapse of the 16th biggest bank in the country everyone is trying to understand what happened.
Whether remote work led directly to a bank failure, or whether poorly-managed remote work was simply a sign of bigger problems at the company, we may never know. Either way, what happened at SVB will likely enter the broader debate about returning to the office.
Details: The banking industry has led the return to office charge for a while, and SVB was an outlier in its commitment to something different.
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