JPMorgan plans 5 day work-from-office mandate, ending hybrid option for employees | Company Business News

JPMorgan, the largest bank in the US, is planning to direct its employees to work from the office five days a week, Bloomberg reported. This would eliminate the hybrid working option, which employees have been provided with since the COVID-19 pandemic.

The global investment has a three-day work-from-office rule for over three lakh employees. The five-day work-from-office mandate is expected to be announced in the upcoming weeks, the report said, citing people familiar with the matter.

Nearly 70 per cent of employees at JPMorgan are already working from the office for five days a week, while others work from the office three or four days a week, the report said, citing a JPMorgan spokesperson, who declined to comment on the recent development.

Jamie Dimon on work from office

JP Morgan Chief Executive Officer (CEO) Jamie Dimon has been vocal about promoting work from office culture and highlights the limitations of working remotely. The bank has been one of the first employers to initiate the work-from-office policy post-pandemic. According to Forbes, Dimon mentioned earlier that remote working hinders “spontaneous idea generation” and makes it difficult to manage teams effectively.

He was also surprised to see empty offices and said, “I can’t believe, when I come down here, the empty buildings. The people who work for you not going to the office.”

In 2023, JPMorgan’s peer Goldman Sachs asked its employees to return to the office full-time. In 2023, it again reiterated this policy after some employees continued to work from home. Goldman Sachs employees have been working in the office five days a week since then.

Several companies have switched to work-from-home or adopted hybrid working policies since the COVID-19 pandemic. Last year, many major companies, including Amazon, Meta, Apple, and Google, urged employees back to the office, according to reports.