Return to work burdens Americans amid high gas prices
New York (CNN Business)New York Mayor Eric Adams is begging the city’s business leaders, including JPMorgan CEO Jamie Dimon, to ride the subway to work. Adams is pushing to bring people back to New York offices after years of working from home.
“We’re going to get him on a train,” Adams told the Financial Times in an interview. “We’re going to get everyone on the train. He understands the need of getting his people back and leading from the front.”
JPMorgan (JPM) didn’t immediately respond to CNN Business’ request for comment.
Adams is trying to corral workers back to offices just as the city elevated its Covid-19 status to “High” on Tuesday. That means the city is experiencing “high community spread” resulting in “substantial pressure” on the city’s health care system, according to the health department.
“We’re telling our corporate leaders: ‘Hey, get on the train!'” Adams said in the interview. “We need to advertise that New York is back.”
Roughly 40% of workers in New York City are currently in the office on a weekday, according to a recent survey conducted by the Partnership for New York City. The survey also found that remote work is “here to stay,” with nearly 80% of employers instituting a hybrid office/remote model.
Another concern from employees about returning to work is crime. About one-third of employers said that reducing homelessness would be “most effective” in encouraging workers to return.
Big banks typically like to stick together on major policy decisions. But as Wall Street grapples with heading back-to-offices, a rare chasm is growing between the finance giants.
Goldman Sachs (GS), Bank of America (BAC) and Morgan Stanley (MSPRE) are taking hardline approaches, requiring employees to come into the office five days a week. However, Citigroup (C) announced that the majority of the company’s 210,000 employees will be allowed to go hybrid, with three days in the office.
JPMorgan has reportedly eased its return to office policies too.
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