Top Investment Banking Firm Ask Staff To Return to Work Next Week, As Productivity Falls - Report!

As employees are working from home due to the COVID-19 crisis, a big concern has emerged to top investment banking firm JPMorgan Chase & Co.'s as productivity slipped.

According to findings discussed by Chief Executive Officer Jamie Dimon in a private meeting with Keefe, Bruyette & Woods analysts, the work output was particularly affected on Mondays and Fridays after which the biggest U.S. bank is urging more workers to return to offices over the coming weeks. 

"The WFH lifestyle seems to have impacted younger employees, and overall productivity and 'creative combustion' has taken a hit," KBW's Brian Kleinhanzl wrote on September 13 to clients. 

"The bank has noticed the productivity decline among employees in general, not just younger employees," JPMorgan spokesman Michael Fusco clarified in an emailed statement. 

According to Bloomberg report, the findings by JPMorgan provides a data point in the debate over whether employees perform well at home or workplace, that shows extended remote work may not be for some job functions. 

Last week, JPMorgan told its most senior sales and trading employees that they would be required to return to their offices by September 21. It was the strongest decision taken up by a U.S. bank to restaff its workplaces. 

Meanwhile, workers in other departments are also being encouraged to return, up to a maximum building capacity of 50 percent in New York, Bloomberg further reported.