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JPMorgan to Let 10% of U.S. Employees to Work From Home Full-Time

JPMorgan says some employees will return to offices, some will have a hybrid model and others will work full-time from home.
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Banking giant JPMorgan  (JPM) - Get JP Morgan Chase & Co. Report will allow 10% of its 255,000 U.S. employees to work from home full-time as major companies discuss bringing employees back to their offices as the COVID-19 pandemic wanes. 

JPMorgan CEO Jamie Dimon made the announcement in a shareholder letter last week, continuing a pilot program named "Project Kennedy" that the bank started in Mach 2020 at the outset of the COVID-19 pandemic. 

"Generally speaking, we envision a model that will find many employees working in a location full time," the letter stated. "Some employees will be working under a hybrid model (e.g., some days per week in a location and the other days at home). And a small percentage of employees, maybe 10%, will possibly be working full time from home for very specific roles."

On Monday,  (CRM) - Get Salesforce Inc. Report announced it's planning to reopen its San Francisco headquarters in May along with its offices in Palo Alto and Irvine, Calif., according to a post on the software giant's website Monday.

Read More: Salesforce Bringing Back Staff to San Francisco HQ in May

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At first, office attendance will not be compulsory, with employees having the option to work from home through year's end.

Earlier this month, Amazon  (AMZN) - Get Inc. Report announced that it will have its employees return to an "office-centric" work culture as its baseline by the early fall, with workers trickling in over the summer in the U.S.

The timeline for returning to different offices will vary by infection and vaccination rates, according to a company memo. Amazon has about 800,000 employees in the U.S. 

Read More: Trading JPMorgan and Goldman Sachs: Bank Earnings Preview

JPMorgan is scheduled to report its earnings Wednesday with analysts expecting the bank to report earnings of $3.10 per share on revenue of $13.2 billion.

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