JPMorgan plans 5 day work-from-office mandate, ending hybrid option for employees

The biggest bank in the U.S., JPMorgan Chase & Co., is ready to-out a 5-day work-from-office policy, terminating the hybrid working option. Around 70% of the bank’s employees already pre-pandemic worked full-time in the office, the remainder had three- or four-day schedules. Sources told Bloomberg that the new rule is likely to hit in the weeks ahead.

CEO JamieDimon has been a staunch backer of in-office work and has expressed skepticism about the capabilities of remotework. He believes that better collaboration and task management can result if people return to the office. In the past, Dimon has argued that remote work is not good for informal conversations and innovation. He also mentioned his surprise at the empty offices, saying, "The people who work for you not going to the office—it just doesn't feel right."

JPMorgan has been at the forefront of the push for post-pandemic return to office initiatives. The global investment bank with more than 300,000 workers first announced the 3-day in office work policy but is now tightening its grip with its 5-dayswork from office rule.

The move comes as a number of companies have been re-evaluating their work models. Goldman Sachs, one of JPMorgan's competitors, ordered employees to return to the office full time in 2023. Alternatively, major corporations such as Amazon, Meta, Apple and Google, have also urged their staffers to minimize telecommuting and come back to the workplace in the past few years.

Though work-from-home and hybrid systems became popular during the pandemic and some employees prefer flexibility, many executives, including Dimon, argue that in-office work is critical for long-term productivity and building teams. The decision aligns all of the business under one roof for JPMorgan and should help business to be run more smoothly across the company.

While that sounds good on paper, the new JP Morgan 5-day policy for working from the office also means the end of the flexibility, which employees enjoyed for the past few years. The move signals a broader trend among corporations to opt for conventional office environments instead of hybrid.