JP Morgan to Allow Employees to Return to the Office by May

JP Morgan to Allow Employees to Return to the Office by May jaie dimon wears a headset and speaks on stage. Jamie Dimon, Chairman & CEO of JP Morgan Chase & Co, speaks during the Bloomberg Global Business Forum in New York on September 25, 2019. (Kena Betancur / AFP via Getty Images

By Nick Koutsobinas | Tuesday, 27 April 2021 08:55 PM

JP Morgan Chase & Co has become the first major United States bank to allow its employees to return to the office. The company's CEO Jamie Dimon told Bloomberg that "there are huge weaknesses to the Zoom world. Most of us learn by an apprenticeship system," citing in-person interactions as the best way to foster relationships with clients and employees.

The U.S. bank told its employees on Tuesday it is opening up all its offices on May 17 with the caveat of a 50 percent limit.

"We would fully expect that by early July, all U.S.-based employees will be in the office on a consistent rotational schedule, also subject to our current 50% occupancy cap," Dimon said.

Citi Group's Sara Wechter, Head of Human Resources, said in a LinkedIn blog that the company plans "to invite more of our colleagues back to the office in July and anticipate up to 30% returning throughout the summer. We are hoping to bring additional colleagues back in September."

According to the Daily Mail, Goldman Sachs CEO David Solomon said about the lockdowns, "I do think for a business like ours, which is an innovative, collaborative apprenticeship culture, this is not ideal for us."

JP Morgan's memo to its staff read, according to CNBC, that it plans to "follow all government restrictions and mandates and be prepared to pause or reverse your return if needed. Maintain a 50% occupancy cap — at least until the CDC revises its social distancing guidelines. Practice our industry-recognized health and safety protocols, including our high standards of cleaning and air filtration, mask wearing and daily health check requirements."