JP Morgan has informed UK staff that an increasing number of them will be required to return to the office from next month as restrictions start to ease.
In a recent memo seen by Financial News, the global bank has advised staff that they should prepare for a “consistent schedule” which will be a combination of remote and office working, with offices operating at a maximum 50 per cent of capacity at any one time.
From 21 June, more staff are scheduled to return to the bank’s London and Bournemouth offices, while the timetable for its offices in Glasgow and Edinburgh is yet to be confirmed. Staff will not be required to have been vaccinated in order to return to the office.
On May 12th Boris Johnson told the House of Commons that it was his “intention” to end the work from home guidance after 21st June provided the country remains “on track” with its fight against Covid-19. At the time he predicted the return of the “dynamism” England’s cities “remarkably quickly” when workers return to their offices.
The Evening Standard reported on May 13th that London’s offices are now more than half full, a landmark reached on Thursday 6th May with occupancy levels at the highest they had been since the beginning of the pandemic
JP Morgan and other US banks are certainly pressing ahead with their plans to return to the office in June. Goldman Sachs has also informed UK staff that they will be returning to work in the office from 21st June.
In January, boss Jes Staley denounced home working as “not sustainable”, telling the World Economic Forum that it would; “increasingly be a challenge to maintain the culture and collaboration that these large financial institutions seek to have and should have.” Mr Staley recently predicted that the UK is on the verge of experiencing its biggest economic boom since Britain rose from the ashes of World War II. Mr Staley said that the UK and the US would see some of the fastest economic growth in decades due to the combination of a successful vaccine rollout and the estimated £200bn of extra cash sitting unspent in customer and company bank accounts.
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