In a memo obtained by the New York Post that was sent to US employees late Wednesday, the mega-bank laid out new guidelines for getting people back to a "regular schedule" in the office by July 6.
Regardless of vaccination status, JPMorgan said employees will be expected back in the office a minimum of 50% and possibly 100% of the time, depending on their role and on occupancy limits.
Ticker Security Last Change Change % JPM JPMORGAN CHASE & CO. 152.51 +1.39 +0.92%
The company is requiring employees to fill out a survey asking about their vaccine status, although they will have the option to decline to disclose it. Vaccinated employees will be exempt from most coronavirus health protocols like wearing masks and social distancing. Unvaccinated employees will continue to test for coronavirus, wear masks, and socially distance.
This approach is more circumspect than that of other banks like Goldman Sachs and Morgan Stanley, which have mandated most employees return to all locations.
People close to the bank stress the importance of fairness in implementing the policy — those who are unvaccinated shouldn’t be exempt from returning to work. Still, it’s possibly certain allowances will be made in special cases for those who are immuno-compromised.
Even though CEO Jamie Dimon was slower to mandate a full return to work, he’s been singing the praises of in-person meetings and events in recent months. Dimon remarked at a WSJ CEO Council event in May that he planned to cancel his Zoom meetings.
"It doesn’t work for people who want to hustle, doesn’t work for culture, doesn’t work for idea generation," Dimon said. "By September it’ll look like just it did before. We are getting blowback about coming back internally but that’s life."
The memo also stresses the importance of getting vaccinated and applauds the staffers who’ve been returning to work of their own accord.
"Over the past month it has been terrific to see more of you safely returning to our US offices, and we have been pleased to hear from many of you that our workspaces are better than ever," the memo said. "You’ve commented on the health and safety protocols we’ve put in place, the new technology we’ve rolled out and, most importantly, how good it feels to see your colleagues in person."