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US Banks Weigh Options About Employees as Economy Reopens

As states prepare to reopen certain businesses in the US, the country’s largest banks consider whether to keep employees remote or return to their offices while adhering to safety protocols.

With tech companies such as Twitter, Facebook and Square announcing that a large portion of its employees will work from home permanently, the US banking industry is deciding whether to follow the trend of keeping its employees remote, according to S&P Global Market Intelligence.

JP Morgan Chase, the largest bank in the US, has almost 200,000 employees currently working remotely. According to Bloomberg News, the company found that its traders managed about three times the typical trading volume while working from home, making it possible that a large percentage of employees may remain permanent remote workers to save costs on leasing office space.

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Pearl Wu

Pearl Wu

Pearl Wu is the editorial Recognition Desk Manager at ALM Media and oversees the administrative aspects of U.S. Legal awards. Please find our upcoming deadlines here.

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