The Blubber

JPMorgan Chase & Co. is preparing to require all employees to return to the office five days a week, ending hybrid work arrangements for thousands of staff. This policy shift would restore pre-pandemic attendance rules at the nation’s largest bank, which employs over 300,000 people worldwide.

Upcoming Changes

The bank plans to announce the change in the coming weeks, replacing its current three-day in-office mandate for many workers, according to sources familiar with the matter. The decision, which is not yet final, builds on existing policies introduced in April 2023 that already require managing directors to work in-office full-time. Approximately 60% of JPMorgan’s workforce—such as traders and retail branch employees—are already under a five-day-a-week requirement.

A spokesperson for the New York-based bank declined to comment on the plans.

Aligning With CEO’s Vision

If implemented, the move would signify a return to pre-pandemic office expectations for one of Wall Street's leading institutions, even as some competitors maintain more flexible policies. JPMorgan CEO Jamie Dimon has been a vocal proponent of in-office work, asserting that employees perform better when working together in person. He has also criticized the federal government for not enforcing stricter return-to-office policies for its workforce.

Challenges of Mandating Office Attendance

Efforts to enforce full-time office attendance have proven challenging for some companies. Amazon.com Inc., for instance, mandated a five-day return-to-office schedule starting in January but had to delay the rollout for thousands of workers due to space constraints in certain cities. Other firms have had to issue reminders to ensure employees comply with similar requirements.

Investment in Office Space

JPMorgan is doubling down on its commitment to in-person work with the construction of a 60-story skyscraper in Midtown Manhattan. The new building will accommodate up to 14,000 workers and feature amenities like yoga and cycling rooms, meditation spaces, outdoor areas, and a cutting-edge food hall.

Industry-Wide Divergence

Wall Street firms remain divided on their work-from-home policies. Goldman Sachs Group Inc. has long adhered to a five-day in-office standard, while Citigroup Inc. continues to allow many employees to work in-office three days a week.

This trend underscores ongoing debates among financial institutions about the long-term role of flexible work arrangements in a post-pandemic world.