JPMorgan CEO Jamie Dimon has been outspoken when it comes to the downsides of remote work on Wall Street.
JPMorgan is reopening U.S. offices for all employees on May 16, according to a memo on Tuesday. The bank wants staff to return to the office on a rotational basis by July. “Working together in person is important for our culture, clients, businesses and teams,” the memo said. See more stories on Insider’s business page.
Time is running out for remote work for some on Wall Street, as the biggest US bank unveils its most detailed timeline yet about returning to the office.
JPMorgan will open all of its U.S. offices on May 17 under a 50% occupancy cap and expects staff to return to the office on a rotational basis by July, according to an internal memo sent on Tuesday morning and reviewed by Insider.
“Throughout the pandemic, our buildings and branches in the U.S. have remained open and have safely operated for our essential employees, to whom we remain incredibly grateful. As the U.S. surpasses its goal of more than 200 million COVID-19 vaccinations administered and more cities and states lift restrictions, we will open our U.S. offices to all employees on Monday, May 17 subject to our current 50% occupancy cap,” the memo, which was sent by JPMorgan’s operating committee, said. Bloomberg first reported the news.
The memo said that although there will be an adjustment period as staff gets used to in-office work, the bank expects that everyone will be back in the office, on a rotational basis to comply with the 50% occupancy gap, by July.
“With this timeframe in mind you should start making any needed arrangements to help with your successful return,” the memo said.
JPMorgan CEO Jamie Dimon has been outspoken when it comes to the downsides of remote work on Wall Street. Dimon has previously lamented that Zoom hinders fast decision-making, eliminates spontaneity, and isn’t useful to young bankers who learn the ropes