JPMorgan calls staff back to the office five days a week

JPMorgan Chase & Co. is preparing to end its hybrid-work model and require employees to return to the office five days a week, according to sources speaking to Bloomberg.

The policy change, expected to be announced in the coming weeks, will replace the current three-day office mandate for many staff members and return the bank to the pre-pandemic office attendance requirements.

Currently, around 60% of JPMorgan’s workforce, including traders and retail branch employees, already work in the office five days a week.

Under the new plan, the requirement will be extended to all employees, signalling a shift towards a more traditional office environment.

The decision is consistent with CEO Jamie Dimon’s stance that in-person work fosters greater collaboration and productivity.

The move to a full-time office mandate contrasts with policies at other financial firms, some of which have embraced more flexible working arrangements.

Goldman Sachs has pushed for a five-day office work week, while Citigroup has maintained a policy allowing employees to work from home three days a week.

In addition to the return-to-office policy, JPMorgan is investing in its office space, constructing a 60-story skyscraper in midtown Manhattan, which will house up to 14,000 employees.