JPMorgan will soon require all of its employees to work in the office five days a week, following the example of companies such as Amazon AND Walmart.
According to one Tuesday's report According to Bloomberg, in the coming weeks, JPMorgan is expected to announce a shift from hybrid work that requires three days a week in person to fully in-person work with five days in the office.
The change applies to all of the bank's more than 300,000 global employees.
JPMorgan CEO Jamie Dimon. Photo by Kevin Dietsch/Getty Images
JPMorgan previously said all managing directors in April 2023 that they had to work from the office every weekday. Employees who interact with customers, such as bank tellers and salespeople, are already required to work in person five days a week.
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Bloomberg estimates that more than half of the bank's staff, or about 60% of employees, are already in the office every weekday. The move to fully in-person work will most likely be a change for back-office workers, most of whom are currently on a hybrid schedule.
JPMorgan CEO Jamie Dimon told the Wall Street Journal in April that “five is ideal” when it comes to the number of days people should be in the office.
“There are some jobs where taking a day or two home is fine,” he added. “It's very job specific.”
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JPMorgan is the largest bank in the US with $3.9 trillion in assets. By pushing five days a week back to the office, the bank follows suit the largest online retailer in the United States: Amazon.
Amazon asked all of its corporate employees to return to the office every weekday starting Jan. 2, but since then delayed his return to office (RTO) mandate for thousands of employees because there is not enough office space.
Amazon's push for RTO has inspired other companies like AT&T and Sweetgreen to follow suit and ask staff to come to the office more often in the new year.
Despite the push for in-person work, research shows that hybrid schedules have their benefits.
or STUDY published last year in the scientific journal Nature compared a hybrid work group to an in-person work group over six months and found no significant difference in productivity, performance, or promotion between the two.
Hybrid work had the advantage, leading to better results in terms of lower turnover rates and job satisfaction.