UBS's return to the office is lenient compared to JPMorgan's
If you work in banking and you want to spend part of your week working from home, some banks are better than others. Citi allows people to work from home two days a week. So does UBS.
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But UBS is getting stricter about which days those are.
It's understood that UBS updated its approach to remote work today and informed employees that while they can still work from home two days a week if their 'role, tasks and location' allow it, they must be in the office on either a Monday or a Friday.
The new requirement is being rolled out now. Insiders at the Swiss bank say it has also begun monitoring staff office attendance as it attempts to ensure staff adhere to its requirements. Staff are being monitored via a dashboard that gives employees and managers a transparent overview of the working days in the office.
A spokesperson for UBS said: “Our working approach is office-centric with flexibility, and we ask our employees to be in the office at least three days a week. Spending enough time in the office with colleagues fosters innovation, collaboration, and team productivity.”
UBS's insistence that people are seen at their desks in the office on Mondays and Friday's follows Jamie Dimon's complaint that people don't do any work when they're at home on a Friday.
JPMorgan requires that people are in the office five days a week. So does Goldman Sachs. Time in the office is understood to be one of the criteria by which Goldman Sachs is assessing which technology vice presidents (VPs) to let go in its coming round of layoffs.
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