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JPMorgan to let most consumer staff work from home until 2021: Bloomberg News

(Reuters) – JPMorgan Chase & Co told thousands of workers across its consumer unit that they could plan to work from home until next year, Bloomberg News reported on Monday, citing memos sent to the bank’s staff.



a store front at night: FILE PHOTO: People walk inside JP Morgan headquarters in New York


© Reuters/Eduardo Munoz
FILE PHOTO: People walk inside JP Morgan headquarters in New York

The directive applies to most of JPMorgan’s U.S.-based employees in the consumer unit and excludes branch workers and some in operations, according to the report.

JPMorgan did not immediately respond to a request for comment.

Earlier this month, Bloomberg reported that the bank had sent its Manhattan workers home after an employee in the equities trading division tested positive for COVID-19.

JPMorgan executives had previously told managing directors and some executive directors within its sales and trading operation that they must return to the office by Sept. 21.

(Reporting by Abhishek Manikandan in Bengaluru; Editing by Devika Syamnath)

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JPMorgan Says Most Consumer Staff to Work From Home Until 2021

(Bloomberg) — JPMorgan Chase & Co. told thousands of office workers across its consumer unit they can plan to continue working remotely until next year, breaking with the firm’s Wall Street operations, which mandated that senior traders return to work.



a man standing next to a glass door: A person wearing a protective mask enters JPMorgan Chase & Co. headquarters in New York, U.S., on Monday, Sept. 21, 2020. JPMorgan CEO Dimon has made the case for a broader return, saying his firm has seen "alienation" among younger workers and that an extended stretch of working from home could bring long-term economic and social damage.


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A person wearing a protective mask enters JPMorgan Chase & Co. headquarters in New York, U.S., on Monday, Sept. 21, 2020. JPMorgan CEO Dimon has made the case for a broader return, saying his firm has seen “alienation” among younger workers and that an extended stretch of working from home could bring long-term economic and social damage.

The directive, which was communicated to staff in several memos Monday, applies to most U.S.-based employees in the consumer unit who have been working remotely to help stem the spread of the coronavirus. It excludes branch workers and some in operations, according to a person briefed on the staffing plans. The

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JPMorgan sends some traders home after worker contracts COVID-19: Bloomberg News

(Reuters) – JPMorgan Chase & Co JPM.N sent some of its Manhattan workers home this week after an employee in equities trading tested positive for COVID-19, Bloomberg News reported on Tuesday, citing a person familiar with the matter.

FILE PHOTO: A woman passes by a Chase bank in Times Square in New York City, U.S., March 7, 2019. REUTERS/Brendan McDermid

News of the infection, on the fifth floor of the bank’s 383 Madison Ave. building, was communicated to employees on Sept. 13, according to the report here&utm_source=twitter&cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic&utm_medium=social&sref=WJKVI5nK.

A JPMorgan spokesman said the bank has been “managing individual cases across the firm over the course of the last few months and following appropriate protocols when they occur.”

The bank executives had previously told managing directors and some executive directors within its sales and trading operation that they must return to the office by Sept. 21.

Earlier on Tuesday, before the media

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JPMorgan Reportedly Sends NYC Workers Home As Employee Tests Positive For COVID-19

Topline

A JPMorgan equities trading employee tested positive for COVID-19, according to Bloomberg, leading the bank to send some Manhattan workers home ahead of a planned return to the office next week for more workers at the banking giant.

Key Facts

The employee reportedly worked on the fifth floor of JPMorgan’s 383 Madison Ave. building, according to Bloomberg, citing an anonymous person who knew of the matter, which was not public prior to Tuesday.

JPMorgan employees were told on Sunday about their colleague testing positive for the coronavirus, Bloomberg reported.

The reported infection comes ahead of orders from JPMorgan’s C-suite for their senior sales and trading employees to return to the office September 21.

Bloomberg reported Monday that JPMorgan’s worker productivity plummeted among younger workers at the beginning

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What JPMorgan Has To Say About Young Employees Working From Home

JPMorgan Chase & Co (NYSE: JPM) says it has noticed a troubling pattern with its work-from-home employees, particularly those who are of a younger age, Bloomberg reported Monday.

What Happened: CEO Jamie Dimon told analysts Keefe, Bruyette & Woods in a private meeting that productivity was particularly affected on Mondays and Fridays, according to Bloomberg.

“The WFH lifestyle seems to have impacted younger employees [at JPMorgan], and overall productivity and ‘creative combustion’ has taken a hit,” KBW Managing Director Brian Kleinhanzl wrote to clients in a note, citing the meeting with Dimon.

JPMorgan spokesman Michael Fusco told Bloomberg that the productivity of employees was affected “in general, not just younger employees,” but added that younger workers “could be disadvantaged by missed learning opportunities” as they were not in offices.

Why It Matters: The New York-based lender informed most senior sales staff and trading employees that they would be required to

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At JPMorgan, Productivity Falls for Staff Working at Home

(Bloomberg) — A troubling pattern emerged as most of JPMorgan Chase & Co.’s employees worked from home to stem the spread of Covid-19: productivity slipped.



a building with a metal tower and blue umbrella: Scaffolding covers a construction site for JP Morgan Chase & Co. headquarters in New York, U.S., on Monday, June 8, 2020. Completion is still years away, but the ramping up of construction on high-rise office towers like JPMorgan's — which will be one of the largest in Manhattan, rise some 70 floors and be capable of housing roughly 15,000 employees — comes at what suddenly feels like an odd time.


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Scaffolding covers a construction site for JP Morgan Chase & Co. headquarters in New York, U.S., on Monday, June 8, 2020. Completion is still years away, but the ramping up of construction on high-rise office towers like JPMorgan’s — which will be one of the largest in Manhattan, rise some 70 floors and be capable of housing roughly 15,000 employees — comes at what suddenly feels like an odd time.

Work output was particularly affected on Mondays and Fridays, according to findings discussed by Chief Executive Officer Jamie Dimon in a private meeting with Keefe, Bruyette & Woods analysts. That, along with worries that remote work is no substitute for organic interaction, is part of why the biggest U.S. bank is urging more

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