Trump praises JPMorgan for telling trading staff to return to the office
JPMorgan employees in London and New York will return to the office by Sept. 21
President Trump on Friday lauded the nation's biggest bank for calling its top trading staff back to the office after months of remote work.
"Congratulations to JPMorgan Chase for ordering everyone BACK TO OFFICE on September 21st," Trump tweeted. "Will always be better than working from home!"
JPMorgan told senior employees of the sales and trading operation in London and New York that they and their teams must return to the office by Sept. 21, a person familiar with the matter told FOX Business.
The Wall Street Journal first reported the news Thursday.
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Employees who have medical conditions that make them more vulnerable to COVID-19 complications, or who live with someone considered at increased risk of severe illness, can continue working from home. That exemption also applies to employees with child-care issues.
Companies that have permitted their employees to work virtually for the majority of the year face a challenge in calling them back. Colleges and universities that welcomed back thousands of students to their campuses are now beset by COVID-19 cases.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 212.33 | +3.63 | +1.74% |
Trump, however, has repeatedly pushed for a return to normal in the months after the coronavirus pandemic struck the U.S., forcing an unprecedented shutdown of the nation's economy. (His reelection campaign released a bulleted list of 50 proposals ahead of the Republican National Convention three weeks ago, with one major goal to "return to normal in 2021").
The president has frequently sparred with New York Gov. Andrew Cuomo, a Democrat, over his handling of the state's reopening.
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New York's COVID-19 infection rate has remained below 1% for one month, a milestone for a city that was once the global epicenter of the virus. In the five boroughs alone, 23,741 people died from the virus.
“New York City must stop the Shutdown now,” Trump tweeted on Wednesday. “The Governor & Mayor are destroying the place!” By the end of September, in-person education at public schools will resume and indoor bars and restaurants will reopen at 25% capacity.
In a letter sent Thursday to New York City Mayor Bill de Blasio, more than 160 business leaders, including executives at Citigroup, Mastercard, Bank of America and Nasdaq, warned of "widespread concern" over the city's deteriorating condition in the wake of the pandemic.
"We need to send a strong, consistent message that our employees, customers, clients and visitors will be coming back to a safe and healthy work environment," they wrote. "People will be slow to return unless their concerns about security and the livability of our communities are addressed quickly and with respect and fairness for our city’s diverse populations."