JPMorgan Chase & Co. has now become the first major U.S. bank to discontinue the work from home policy and Ask its employees to return to the office.
Chief Executive Officer, Jamie Dimon, sent a message to his fellow Wall Street chiefs that it is time to bring employees back to the office.
JP Morgan Ends Work From Home; Asks Employees To Return To Office In 60 Days
The entire workforce of the bank in the US has been asked to come back to the office in about two months. As we all know it has been one year more than one year since the work from home policy was implemented by major organizations so as to limit the spreading of COVID-19 virus.
Dimon himself has been going to the bank‘s headquarters since June and had announced way back in September that and increased duration of the work from home policy will result in economic and social damage.
David Solomon who is Dimon’s counterpart at Goldman Sachs group Inc has also stated that work from home is an aberration that should now be corrected.
As per reports, the employee rotations at JP Morgan bank will be capped at 50% occupancy till the time the social distancing guidelines are reversed by the US authorities. In the memo sent to the employees, the bank states that they should keep this time frame in mind and start making any arrangements that are needed in order to return successfully to work.
Company Encourages Staff To Be Vaccinated
The company has also strongly encouraged the staff to be vaccinated but it is not a requirement that they need to follow before coming back to the office.
In the memo, JPMorgan’s leaders state, “We firmly believe that working together in person is important for our culture, clients, businesses and teams, and we know that you’ll do your part to make it a positive experience that reflects our company at its best.”
The company has also stated that the US offices will be opened to all employees on Monday, May 17. However, this will also be subjected to the occupancy limit.
Last year, we reported that JPMorgan Chase and Company is ending ‘work from home’ (WFH) for its employees as productivity falls. The US bank told its senior sales and trading employees to resume working from offices from September 21.
In New York, employees in other departments will also be urged to return to offices shortly, with a maximum building capacity of 50%.
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