A top JPMorgan Chase exec says he's softened his stance on how many days certain employees need to be in the office.
Drew Cukor, a top executive focused on artificial intelligence and machine learning and engagement at JPMorgan, told some teams on Tuesday that they are now allowed to come in one day less per week. Feedback "from many around the business" factored into his decision to drop the minimum required number of days in the office from three to two each week, according to an internal memo seen by Insider.
Cukor called the rollback a "generous modification" in the memo, and asked that "all members of our team meet the two-day with earnestness."
It's unclear how many staffers will be affected by the change. The memo was addressed to members of JPMorgan's "CTO and TRAIN" teams only.
A JPMorgan spokeswoman declined to comment.
The announcement comes days after Insider reported that JPMorgan has asked its hybrid workers to come in three days per week. The report cited employees upset by the company's strict enforcement of its hybrid policies, including its monitoring of them using ID swipes.
"The Firm has heard from many around the business...and we're making a few adjustments," Cukor wrote. "Effectively immediately: We are now authorized to invite our workforce to two days a week in the office."
JPMorgan has been monitoring when employees are in the office each week using ID badge swipes, feeding the data into "dashboards" and "reports" that are circulated up to senior managers, Insider reported last week.
Multiple current employees told Insider that the firm's surveillance efforts have made them uncomfortable, and that they are now searching for jobs elsewhere. Some described a "fear of God" and dread among even the managers charged with enforcing the policy, lest their teams be perceived as anything short of totally compliant.
The firm's CEO Jamie Dimon has been adamant about getting his employees back to their desks throughout the pandemic, citing the importance of togetherness for success on the job. In a shareholder letter earlier this month, he said that the bank had agreed to extend hybrid working arrangements to 40% of its global workforce.
Read the full email here:
From: Cukor, Drew
Sent: Tuesday, April 26, 2022
Subject: RTTO announcement for CTO and TRAIN members
Team,
Quick and brief update on RTTO: The Firm has heard from many around the business...and we're making a few adjustments.
Effective immediately: We are now authorized to invite our workforce to two days a week in the office.
I know many are working effectively from the office, from home and everywhere in between. I'm grateful for everyone's hard work and patience over these last few months. Productivity and delivery of effective solutions to our business partners is always top priority alongside the health, safety and happiness of each member of our team.
I respectfully ask that with this generous modification that all members of our team meet the two-day with earnestness. Those that can't, let's please surface reasons and if applicable, let's get work from home status filed in the system.
Please let me know for questions and I'll address more fully at our team meeting later in the week.
Many thanks,
Drew
Are you an employee at JPMorgan Chase? How do you feel about the bank's return-to-office requirements? Contact this reporter. Reed Alexander can be reached via email at ralexander@insider.com, or SMS/the encrypted app Signal at (561) 247-5758.
