US bank JPMorgan Chase has announced that it will require employees on hybrid work schedules to return to the office five days a week starting in March. The decision was made after internal memo shown to Reuters by the bank’s operating committee. Many companies have been calling staff back to the office as early as 2021, with some CEOs advocating for working from the office to foster better learning and innovation.
According to JPMorgan CEO Jamie Dimon, being together in the office enhances mentoring, learning, brainstorming, and productivity. However, the bank has acknowledged that some employees prefer a hybrid schedule, citing increased commuting and childcare costs as concerns. The memo also included details on special exceptions for remote work, flexibility for personal reasons, and attendance logs.
The decision comes after JPMorgan already requires over half of its 316,000 staff worldwide to come into the office full-time. Employees who will be affected by the new policy will receive at least 30 days’ notice before they are expected to return to offices full-time. The bank has also committed to providing flexibility in the workplace, but this decision may impact employees who prefer a more remote work arrangement.
Source: https://www.investing.com/news/economy-news/jpmorgan-asks-staff-to-return-to-office-five-days-a-week-prompting-complaints-3808150