JP Morgan Plans To Bring Workers Back Five Days a Week

Bloomberg's Sri Natarajan talks JP Morgan's decision to bring workers back to the office 5 days a week and what that says about the future of hybrid work.

JPMorgan Chase & Co. is preparing to tell all its employees to return to the office five days a week, ending a hybrid-work option for thousands of staff and returning to the attendance policy that was in place before the pandemic.

The largest US bank, which employs more than 300,000 people globally, is expected to announce the change in coming weeks, replacing an existing three-day mandate for many of its workers, according to people familiar with the matter, who asked not to be named discussing unannounced plans.

The decision, which could still change, would expand existing rules announced in April 2023 that require the bank’s managing directors to be in five days a week. About 60% of the bank’s staff — including many traders and retail branch workers — already operate under that requirement.

A spokesperson for New York-based JPMorgan declined to comment on the plans.

The move would mark a return to pre-pandemic expectations for one of Wall Street’s biggest names, while some rivals continue to allow more flexibility for their staff. It’s also a sign of Chief Executive Officer Jamie Dimon following through on his belief that staff work better together in-person.

The CEO has previously criticized the federal government for not requiring workers to be at their offices more regularly.

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