JP Morgan doubles number of staff returning to office work
JP MORGAN is to double the number of investment bankers who can use its offices each day as City firms grapple with the challenge of bringing workers safely back to their desks.
It comes amid intense uncertainty over the future of office working and the commercial property sector in key urban centres throughout the world.
Last night, property website React News said that Google had walked away from a deal for 200,000 sq ft of space in Dublin.
In London, half of JP Morgan’s investment bankers can now work from its Canary Wharf headquarters at any one time, compared to a previous maximum of 25pc. The rise is likely to affect several hundred people.
Many JP Morgan staff are working a “week on, week off” pattern in the office to maintain social distancing and prevent the spread of coronavirus, although those who wish to stay at home can do so. The increase was first reported by the Evening Standard as major London businesses including Accenture, Aviva, Clyde & Co, JLL and Legal & General teamed up to develop ideas on helping workers get back to the office safely, with skyscrapers still sitting almost empty months after Covid deaths peaked. Huge challenges remain over how to handle entry systems, lifts and public transport.
The London Work, Travel and Convene Coalition plans to issue a report in
November discussing the most helpful technologies and practices, with a view to developing a benchmark.
There are concerns about the slow pace of the return to the office in the UK. It is feared this is having a catastrophic impact on urban businesses, landlords and transport firms.
Many employers remain concerned about protecting employees, and social distancing measures mean workers cannot pack into buildings on the same scale as before.