- JPMorgan Chase is reportedly planning to mandate full-time in-office attendance for its entire workforce, ending its 3-day hybrid policy.
- Roughly 60% of the bank’s staff, including managing directors, retail employees, and traders, are already back full-time following a 2023 mandate.
- CEO Jamie Dimon has long opposed remote work, emphasizing diversity, decision-making, and leadership visibility as reasons for office attendance.
- The policy shift aligns with broader industry trends, as financial firms like Citigroup, Barclays, and HSBC have also enforced stricter return-to-office policies.
JPMorgan Chase (JPM) is reportedly planning for its entire global workforce of 300K employees to return to the office full-time. The move could be officially announced in the coming weeks, according to Bloomberg.
Current Work Situation
As of April 2023, about 60% of JPMorgan’s staff, including key roles such as retail employees, managing directors, and traders, were already required to work from the office full-time. The remaining 40% operated on a 3-day hybrid model unless senior management approved remote work.
As reported by Bisnow, the new policy would eliminate that flexibility, requiring all staff to return for five days a week.
The Boss’s Orders
CEO Jamie Dimon has consistently advocated for in-office work, citing better collaboration, decision-making, and leadership visibility as key benefits.
Dimon previously argued that physical office presence fosters diversity and mentorship, emphasizing that leadership should “lead by example” by being present in the office.
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Industry-Wide Trend
JPMorgan’s expected mandate mirrors a broader return-to-office (RTO) shift across the financial sector.
Banks like Citigroup (C), Barclays (BCS), and HSBC (HSBC) all implemented stricter RTO policies last year, driven in part by regulatory concerns from the Financial Industry Regulatory Authority (FINRA).
Monitoring remote workers for compliance has proven costly, motivating some firms to shift back to in-person operations.
The Bigger Picture
As companies adjust to a post-pandemic environment, expectations for widespread office returns are growing.
A Bisnow survey revealed over half of respondents expect office attendance to exceed 60% of pre-pandemic levels in 2025. Similarly, KPMG’s fall 2024 survey found that 83% of executives expect to implement RTO mandates this year.
With firms like Amazon (AMZN) and AT&T (T) tightening their own RTO policies, JPMorgan’s move may signal a broader shift toward pre-pandemic work models in corporate America.
