The measure was put in place early in the pandemic in a move to ensure that employees below the managing director level could avoid public transportation, which was deemed to be more likely to carry the virus.
The new reversal was communicated by managers last week, Bloomberg reported, as more bank employees come back to work in offices in New York and London. Senior traders, too, will come back next week.
New York officials have been taking strenuous measures to ensure that the public transit systems are as clean and safe as possible to ensure that people can get back to taking them. Mask use is enforced, Bloomberg reported. Because of the attempts to return to normalcy, Bloomberg sources said JPMorgan Chase's policy would also start veering back to that of pre-pandemic ways.
That said, Bloomberg reported that the upcoming reversal of paying for Uber rides is causing some distress among the younger, lower level JPMorgan Chase staff members. Some staffers have expressed concerns that, as more companies make employees return to work, subway and bus usage will increase, thereby also increasing the risk of contracting COVID-19. The approaching colder months could possibly bring with them a new surge in virus infections.
JPMorgan Chase announced earlier this month that it would be bringing employees back to the office. Marc Badrichani, the company’s head of sales and research, and Troy Rohrbaugh, the company's head of global markets, made that announcement in conference calls last week and said there would be clearly-defined rules on how to proceed.
The banking giant appears to be something of an outlier, with other similar firms not requiring employees to return.