UBS, Citigroup, Wells Fargo, HSBC and BNY Mellon have all announced flexible work plans. Even JPMorgan Chase, the nation’s biggest bank and a hybrid-work holdout, expects that only about half its employees will ultimately be in the office five days a week. The bank’s chief executive, Jamie Dimon, wrote in his annual shareholder letter on Monday that he believed 10 percent of JPMorgan’s roughly 271,000 employees could eventually work from home.
“Although the pandemic changed the way we work in many ways, for the most part it only accelerated ongoing trends,” Mr. Dimon wrote.
But he didn’t sound particularly happy about it, ticking off a list of “serious weaknesses” of virtual work, including slowed decision-making and a lack of “spontaneous learning and creativity.”
“While it’s clear that working from home will become more permanent in American business, such arrangements also need to work for both the company and its clients,” he wrote.
But increasingly, work schedules also have to work for workers.
“It’s all about the talent — how do you retain it, how do you attract it,” said Mr. Naratil of UBS. The bank rolled out its plan last month to allow 10 percent of its 20,500 U.S. employees to work remotely all the time and offer hybrid schedules for three-quarters of its workers.
Wells Fargo started bringing back most of its 249,000-person work force in mid-March with what it calls a “hybrid flexible model” — for many corporate employees, that entails a minimum of three days a week in the office, while groups that cater to the bank’s technology needs will be able to come in less often.
https://www.nytimes.com/2022/04/04/business/wall-street-remote-work.html