8th January 2025 – (New York) JPMorgan Chase & Co. is set to mandate that all employees return to the office five days a week, effectively ending the hybrid work model that has been in place for many of its staff. This decision marks a significant shift back to pre-pandemic attendance policies for the largest bank in the United States, which employs over 300,000 people worldwide.
Sources familiar with the matter, who wished to remain anonymous due to the announcement’s pending nature, indicate that this change will replace the current three-day office requirement for many employees. The adjustment aligns with rules established in April 2023, which already require managing directors to be in the office full-time. Approximately 60% of the bank’s workforce, including traders and retail branch staff, are already subject to this requirement.
A spokesperson for JPMorgan, based in New York, declined to comment on the forthcoming changes. This move reflects CEO Jamie Dimon’s commitment to fostering in-person collaboration among staff, a belief he has vocally supported in the past, including criticism of the federal government for its stance on remote work.
The decision comes at a time when Wall Street firms are divided over work-from-home policies. While Goldman Sachs has been advocating for a full return to the office since 2023, Citigroup continues to allow a three-day work model for many of its employees. Last year, major banks brought back more US bankers and traders to in-person work full-time, following regulatory changes that complicated remote working arrangements.
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