JPMorgan Chase & Co is developing plans to end remote work entirely, potentially becoming the latest major financial institution to fully return to pre-pandemic office arrangements, Bloomberg News reported on Tuesday.
The move by America’s largest bank would align with recent corporate shifts toward traditional work models, following Amazon.com’s mandate for five-day office attendance starting this month.
Currently, about 70% of JPMorgan’s 316,043 employees already work from offices full-time, with the remaining staff maintaining hybrid schedules of three to four days per week, according to a company spokesperson who declined to comment on specific policy changes.
The bank’s return-to-office evolution has been gradual. In July 2021, JPMorgan began recalling employees, prioritizing branch staff and investment banking roles. By April 2022, the bank allowed 40% of its then 270,000-strong workforce to adopt hybrid arrangements, while 10% remained fully remote. A year later, all managing directors were required to return full-time, regardless of their department.
JPMorgan CEO Jamie Dimon has consistently advocated against remote work. During a September interview with The Atlantic, he said that the sight of empty buildings “bothers” him.
“I can’t believe, when I come down here, the empty buildings. The people who work for you not going to the office,” he said. “That bothers me. I don’t allow that.”
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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