JP Morgan has ordered its 14,000 London employees to the full-time office-only to find that he has no enough offices to accommodate them.
The American Investment Bank, which works from Canary Wharf and the city, is now scrambling to increase its office space after canceling the hybrid work policy, which previously allowed employees to work from home for a period of three days a week.
The decision, which was determined in the January memorandum, sparked an internal violent reaction, as more than 1,000 employees signed a petition urging the administration to restore flexible work. In response, the bank’s leadership acknowledged that some employees “prefer a hybrid schedule,” but they mentioned that the shift to the full -time office work is now necessary.
“We have now come out a few years outside the epidemic and we have time to assess the benefits and challenges of work from a distance and hybrid.” “The benefits of working together personally are large and unknown, and while we spend more time together, the advantages we gain increased.”
CEO Jimmy Damon explained his position during the city hall meeting on Wednesday, and according to what the employees reported: “I do not care about the number of people who sign this petition.” He added that those who depend on politics were free to leave.
The GPM's GLASGOW office, which opened in April of last year, will be the first UK base to impose a five -day return for its 2700 employees, with other offices in the United Kingdom in Edinburgh, Manchester and Lies and Bristol are likely to follow.
JP Morgan joins an increasing number of companies that demand employees to return to the office frequently. Amazon, Meta, Starbucks and Dell have stressed remote work policies, as Amazon requires that employees in the office be five days per week in January.
However, not all major companies follow their example. Citigroup recently announced that most of the workforce is still allowed to work two days a week, as it begins to renew a billion pounds from its headquarters at Canary Wharf.
Meanwhile, the UK government has instructed civilian employees to spend at least three days a week in Whitheoul, and in the United States, President Trump signed an executive order to end a distance from government employees.
With companies continuing to re-evaluate the balance between productivity, employee satisfaction, and office space, JP Morgan struggles highlight the logistical challenges of the All-Commort-even to one of the largest banks in the world.