JPMorgan Chase, the largest US bank, is reportedly preparing to announce a return to full office work for all of its employees, ending the hybrid work format introduced during the pandemic.
Bloomberg, citing sources familiar with the matter, said the bank, which employs more than 300,000 people worldwide, will announce the change in the coming weeks. It would replace a three-day office mandate for many of its employees.
It should be noted that 60% of the bank's employees, including many traders and retail employees, returned to the office last year. The bank explained this with regulatory changes that made remote work more difficult.
Attitudes toward work-from-home policies vary among Wall Street firms. Goldman Sachs Group advocates for employees to be in the office five days a week, while Citigroup Inc. maintains a three-day office policy for many of its employees.
Companies try to bring back employees from «remoteness», but meet resistance
The patience of most companies that sent employees to work remotely during the coronavirus pandemic is running out due to employees' reluctance to return to the office. CNBC reported, citing a study by Resume Builder, which surveyed 1,000 executives, that about 90% of companies intended to bring employees back by the end of 2024. Almost 30% are ready to fire employees who refuse to return from «remote».
The main advantage of remote work during the coronavirus — the lack of contact — has subsequently turned into a headache for company management, which believes that the hybrid work format is less efficient. But employees, for their part, are already accustomed to working from home and are categorically against returning to the office even for a few days a week.
At first, companies tried to lure employees to the offices by offering various bonuses and benefits, but then switched to sanctions. Meta management in 2023 demanded that employees who do not work remotely on a permanent basis visit the office at least three times a week, starting in September. Otherwise, they will face «disciplinary sanctions, up to and including dismissal».
Google also insists that employees go to the office at least three days a week. from the office must now work from the office at least two days a week.
It is difficult to say how the confrontation will end, because, according to surveys, young people in the labor market prefer a hybrid form of work. From one to three days a week at home, the rest – in the office. Moreover, the most popular are companies where you are allowed to choose the days you are present.