JPMorgan Chase tells U.S. employees they are expected back to the office on a rotating basis by July
- The biggest U.S. bank by assets told workers that it is ramping up the numbers of employees allowed in offices, and that buildings will be open to all employees on May 17, subject to a 50% building occupancy 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," the bank said in a memo sent Tuesday.
JPMorgan Chase is summoning its U.S. employees back to the office, at least on a part-time basis.
The biggest U.S. bank by assets told workers on Tuesday it is ramping up the numbers of employees allowed in offices and that buildings will be open to all employees on May 17, subject to a 50% building occupancy 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," the bank said in a memo, reported earlier by Bloomberg News. "With this timeframe in mind you should start making any needed arrangements to help with your successful return."
JPMorgan CEO Jamie Dimon said in a webcast last week that the company couldn't yet require employees to be vaccinated before returning to the office. The company has had some employees working from offices for most of the pandemic, especially those in trading roles, but it has long planned on moving to a rotational model to allow workers flexibility.
Citigroup's head of human resources said last month in a blog post that up to 30% of workers would be back in North American offices starting in July and more colleagues would join in September.
Here is the JPMorgan memo:
Dear colleagues,
Throughout the pandemic, our buildings and branches in the U.S. have remained open and have safely operated for our essential employees, to whom we remain incredibly grateful. In our previous message, we said that we were looking forward to having more of you back in the office during the spring and summer months. As the U.S. surpasses its goal of more than 200 million COVID-19 vaccinations administered and more cities and states lift restrictions, we will open our U.S. offices to all employees on Monday, May 17 subject to our current 50% occupancy cap.
We are welcoming more of you back next month so that you can get comfortable with being back in an office environment. Understanding that this may take some time, 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. With this timeframe in mind you should start making any needed arrangements to help with your successful return. Each line of business will work with their managers and location leaders to determine an appropriate schedule. Our branches and offices outside of the U.S. will continue to follow their established processes.
As we welcome you back in the coming months, you should be confident that we will continue 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.
- Provide information and resources to help you get vaccinated because we know that getting vaccinated means less risk of spreading the virus to our families, friends and colleagues. It is also important to note that while we strongly encourage you to get vaccinated, a vaccination is not required in order to return to the office at this time.
- Provide training and resources to help you navigate the new office environment.
We know that many of you are excited to come back, but we also know that for some, the idea of coming in on a regular basis is a change through which you'll need to manage. Please start to discuss your return with your manager and make necessary arrangements.
More details on returning to the office will be provided in the coming days and weeks to help you prepare. We know that you have questions, and many answers can be found in the links below.
Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Sign up to start a free trial today.