Hybrid work arrangements are ending at JPMorgan Chase (JPM).
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According to media reports, senior executives at the world’s largest bank are actively discussing plans to require all of the lender’s 300,000 employees to return to the office five days per week. Most people at JPMorgan Chase are already back in the office full-time, especially client-facing workers such as bank branch workers and salespeople.
Senior managers are also required to be in the office five days a week. However, a new blanket mandate that’s now under consideration would likely impact back-office staff and support workers who currently have hybrid work arrangements that only require them to be in the office three days a week.
Return-to-Office Mandate
JPMorgan Chase could announce a full return-to-office mandate within the next week or two. JPMorgan CEO Jamie Dimon initially complained about work-from-home arrangements, but seemed to soften his position, telling The Wall Street Journal last year that he thought employees should be back in the office five days a week, but adding that “some jobs where taking a day or two at home is fine.”
News of JPMorgan’s return-to-work mandate comes as a number of companies and organizations wrestle with returning employees to the office full-time nearly five years after the Covid-19 pandemic struck. Since the pandemic began to wane in 2022, hybrid work arrangements that enable employees to work some days from home have become standard in corporate America.
JPM stock has risen 44% in the last 12 months.
Is JPM Stock a Buy?
The stock of JPMorgan Chase has a consensus Moderate Buy rating among 16 Wall Street analysts. That rating is based on 10 Buy, five Hold, and one Sell recommendations issued in the last three months. The average JPM price target of $253.27 implies 4.15% upside from current levels.
