JPMorgan announces mandatory five-day in-office work for senior bankers
JPMorgan Chase & Co, the largest American bank, recently announced that its managing directors and other senior employees will be required to work from the office for at least five days a week.
"Our leaders play a critical role in reinforcing our culture and running our businesses. They have to be visible on the floor, they must meet with clients, they need to teach and advise, and they should always be accessible for immediate feedback and impromptu meetings," the bank's operating committee wrote in the memo, reported Business Today.
Jamie Dimon, the CEO, has been a vocal supporter of working in the office, similar to his Wall Street counterparts at Goldman Sachs Group Inc and Morgan Stanley. Dimon has also raised concerns about the negative impacts of prolonged remote work.
JPMorgan has reiterated to its employees on hybrid schedules that they must be physically present in the office for at least three days every week. The bank stated that some employees have not been meeting their attendance requirements, and it needs to be rectified.
Attendance could be considered in their performance evaluations, and managers may take "corrective action" if they fail to meet the requirements.
The company stressed the importance of employees tracking their time outside the office for reasons such as sick leave, vacation, or business trips.
Additionally, the company aims to introduce more automated attendance tracking to efficiently manage work schedules, real estate, and security. The bank stated that it expects all employees to work in the office for five days a week.