America’s largest bank is ending pandemic-era hybrid work for its senior staff.
“Our leaders play a critical role in reinforcing our culture and running our businesses,” JPMorgan Chase told staff in a memo. “They have to be visible on the floor, they must meet with clients… and they should always be accessible for immediate feedback and impromptu meetings.” Wall Street giants like JPMorgan have been among the most vocal proponents of returning to a pre-pandemic office regimen.
While there is still no standard way to measure the full extent of remote work, one report from Kastle Systems, which operates card-swipe security machines, said that the weekly average office occupancy rate at the end of March in the most populous U.S. cities was 49% of pre-pandemic levels. JPMorgan said it would maintain hybrid working options for thousands of employees who are required to have three days in the office.
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