JPMorgan sends some traders home after employee tests positive for COVID-19: Report
Former JPMorgan economist: I applaud Wall Street for efforts to return to offices
Former JPMorgan Chase Chief Economist Anthony Chan on the return to work process.
JPMorgan Chase reportedly sent some of its Manhattan employees home this week after a worker in equities trading contracted COVID-19.
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According to Bloomberg News, citing a person with knowledge of the matter, JPMorgan informed employees on Sept. 13 about the infection.
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The news comes less than one week after the bank told senior employees of the sales and trading operations in London and New York that they and their teams must return to the office by Sept. 21. Some employees of the nation's biggest bank had returned to the office just days after the Labor Day holiday.
A JPMorgan spokesman told FOX Business he could not comment on any specific case, but said the bank has been “managing individual cases across the firm over the course of the last few months and following appropriate protocols when they occur.”
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Since mid-March, most Wall Street traders and bankers have been working remotely; but with New York's COVID-19 infection consistently remaining below 1% over the past month, companies are beginning to grapple with how — or whether — to call back their workers. Colleges and universities that welcomed back thousands of students to their campuses are now beset by COVID-19 cases.
JPMorgan CEO Jamie Dimon has also raised concerns about employees working from home during the pandemic, which he said has hurt overall productivity.
"Jamie thinks a shift back to the office will be good for the young employees and to foster creative ideas," stock analyst Brian Kleinhanzl of Keefe, Bruyette & Woods wrote in a memo about a recent meeting he had with Dimon.
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JPMorgan is not alone in calling back its workers: Goldman Sachs also announced last week that it would start allowing employees to return to offices in shifts over coming weeks after shutting down most of its buildings earlier this year.
"Over the coming days and weeks, colleagues in those offices will hear from their divisional, business and/or local leadership about what to expect for the months ahead, including team rotations in the office where possible, with the goal of giving everyone who can do so an opportunity to come in to their office," a memo from Goldman CEO David Solomon said.
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