JPMorgan Chase Announces Return to Office Requirement

By Nupur Anand, Isla Binnie

U.S. bank JPMorgan Chase (NYSE:JPM) has instructed employees on hybrid work schedules to return to the office full-time starting in March, according to an internal memo obtained by Reuters, which has led to hundreds of employee comments, including complaints.

Financial sectors have pushed back-to-office mandates since the pandemic struck the U.S. in 2020, with many companies calling staff back to work as early as 2021.

CEO Jamie Dimon, along with leaders from Goldman Sachs and Morgan Stanley (NYSE:MS), argues that in-office work promotes better learning, innovation, and culture. Presently, more than half of JPMorgan’s workforce of over 316,000 is already in the office full-time.

In the memo, executives stated, “Now is the right time to solidify our full-time in-office approach. We think it is the best way to run the company.”

A JPMorgan spokesperson confirmed the memo’s contents but did not provide further comment. The memo also acknowledged that some employees may prefer hybrid working and indicated understanding of differing opinions, emphasizing that teamwork enhances mentoring, learning, and efficiency.

Employee feedback on the company’s intranet revealed concerns over increased commuting, childcare expenses, and mental health implications, leading to a rapid influx of over 300 comments before the page was locked.

During the pandemic, essential workers remained on-site, and JPMorgan began a rotational return for corporate staff in mid-2021 and returned managing directors full-time in 2023. Employees will be given at least 30 days’ notice before transitioning to full-time office work and can request additional time with manager approval.

The memo reassured employees of the company’s commitment to fair flexibility support at all levels. It also contained a link to frequently asked questions that outlined remote work exceptions, personal flexibility, and attendance logging.