NEW YORK, Jan. 7 (Xinhua) -- U.S. banking giant 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 U.S. 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," reported Bloomberg News on Tuesday about the move.
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 percent of the bank's staff, including many traders and retail branch workers, already operate under that requirement, according to the report.
"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," it added.
