Latest news with #returntooffice
Bloomberg
a day ago
- Business
- Bloomberg
Societe Generale Asks Staff to Return to Office Four Days a Week
Save Societe Generale SA asked its employees who are on hybrid work schedules to return to the office four days a week, according to an internal memo seen by Bloomberg News. 'I would like to inform you of the executive committee's decision to harmonize rapidly our working from home policy within the group, on the basis of a maximum of one day per week,' Societe Generale Chief Executive Officer Slawomir Krupa wrote in the memo sent Thursday.
Yahoo
2 days ago
- Business
- Yahoo
You Might Have to Work from the Office Again—But Hey, They Might Let You Wear Jeans
Sales of jeans may grow as more employers institute return-to-office mandates because workplace dressing norms have grown more casual, UBS said. The rush to buy pants that nod to the American West is fueling demand for denim thanks in part to Beyonce's country music album, analysts said. Kontoor Brands, American Eagle Outfitters and Levi's are well-positioned to benefit from the fad, UBS are officially part of the office uniform. UBS analysts described denim as a core piece of the modern workplace wardrobe, writing in a research note this week that return-to-office mandates could bolster the business, putting more commuters in jeans. U.S. consumers, the analysts wrote, may now be spending more on denim for work than formal officewear. Job listings today include 'casual' dress code descriptions more frequently than before the pandemic, according to job search platform Adzuna. UBS analysts in a research note earlier this week theorized that companies are 'encouraging more casual workwear" as a way to boost productivity and encourage working in offices instead of from home. 'We expect the casualization of work attire to drive further denim adoption, particularly as consumers increase the number of days working in the office,' UBS wrote. Younger generations are particularly likely to show up to the office in denim, UBS said. "Business professional" attire grew less common on the job in the wake of the pandemic, with suits becoming 'a rarity,' according to Gallup surveys done in 2023. More workers now don business casual clothing, Gallup found, while 30% of women wear street clothing like leggings and T-shirts. Sales of jeans have historically grown in the low single digit percent range, according to UBS, but the category stalled as athleisure took off in the early 2010s. Denim regained momentum by introducing pants more focused on comfort, UBS analysts said. Demand is now being lifted by the rise in popularity of Western-style denim, according to UBS, which expects the domestic denim market to have a 2% compound annual growth rate over the next five years. That can be credited in part to Beyonce's Cowboy Carter album and the growing appeal of country music, UBS said. Such jeans may nod to the American West through bootcut silhouettes, chap-inspired designs, ornamental stitching and buttons or frayed edges, according to fashion publications. Macy's (M), American Eagle Outfitters (AEO) and Boot Barn (BOOT) executives recently reported brisk jean sales at conferences or on quarterly earnings conference calls. Levi Strauss (LEVI) CFO Harmit Singh at a conference this month said the "opportunity is immense" in denim, according to a transcript made available by AlphaSense. Denim is a 'highly fragmented' market with many apparel companies that aren't hyper-focused on jeans, UBS analysts said, which should benefit companies that place a bigger priority on jeans, including American Eagle, Levi's and Kontoor Brands. Read the original article on Investopedia Sign in to access your portfolio
The Guardian
3 days ago
- Business
- The Guardian
John Lewis tells head office staff to work in office at least three days a week
John Lewis is asking head office staff to spend at least three days a week in the office or out on the road in the latest shift away from working from home. The department store group said members of its commercial teams – which include those working in buying and merchandising – should work no more than two days a week from home from July. Previously they were allowed to work up to three days a week at home. The change at the employee-owned group, which is renowned for its good treatment of workers, including access to holiday homes and a generous pension scheme, comes amid a broader shift among businesses ranging from the retailer Boots to Amazon and JP Morgan, who have told staff they must return five days a week. Last month HSBC told staff in its UK high street banks that it may cut their bonuses if they did not work in the office at least 60% of the time. The business has also discussed a group-wide policy of working in the office three days a week, according to the Financial Times. John Lewis's parent group also owns Waitrose supermarkets but the change in working practice applies only to those working for its department store's commercial teams. In the wider group, flexible working is encouraged as agreed with a manager. John Lewis said the changes for its commercial team were partly to enable training and development after it recruited 50 new members of staff and to aid collaboration as it works on a turnaround plan to boost profits. However, some workers have reacted angrily to the change, saying there is not enough space in the group's new head office in Pimlico, central London, according to trade journal Retail Week, which first reported the change in working patterns. The group is in the middle of a tough turnaround plan started by former chair Sharon White and continued under her successor, Jason Tarry. That has involved closing about 16 department stores and at least 20 Waitrose outlets and cutting thousands of head office jobs. Group sales rose 3% to £12.8bn in the 12 months to 25 January 2025, as underlying profit rose from £42m to £126m and sales growth picked up through December and January. A John Lewis spokesperson said: 'Flexible working is an important part of our offer; everyone in our business can request to work flexibly, and most central office partners have hybrid working arrangements in place. 'A collaborative culture is critical to help create the best product ranges and store environment for our customers and we're taking steps to encourage team members to spend time together in our offices, our stores, meeting brands and suppliers and balancing this with working remotely.'
Forbes
11-06-2025
- Business
- Forbes
JPMorgan's Internal Memo Highlights 2 Missed Signals In RTO Mandates
JPMorgan's recent memo provides 2 RTO reminders. JPMorgan's recent internal memo quietly mirrors a growing issue in the modern workplace: a disconnect between leadership's intent and employees' lived experience. In a post-pandemic business world, this gap is becoming more common and more costly. According to a memo shared by Barron's, JPMorgan Chase's latest internal culture survey revealed a drop in the number of employees who feel their health and well-being are a corporate priority. The likely catalyst is the company's full-time return-to-office mandate, implemented earlier this year. In the memo, CEO Jamie Dimon and Human Resources Chief Robin Leopold acknowledged the shift. They wrote, "Health and well-being scores remain favorable, though they dipped slightly year on year," and added, "We know return full-time to the office has been an adjustment and one that not everyone agrees with, but we continue to believe in-person is how we do our best work and how we foster connections and mobility opportunities." While the intent was to facilitate collaboration and mobility, the results told a different story, highlighting declines in three areas: work-life balance, health and well-being, and internal mobility. This disconnect isn't unique to JPMorgan. Many leaders are facing a similar challenge as they reestablish in-office norms. A return to the office isn't inherently the problem, as there are actual benefits to having teams together in person. But beneath the surface of RTO policies lie two often-overlooked leadership blind spots. If ignored, these quietly erode trust, engagement, and long-term performance. In most corporate conversations, flexibility still carries a connotation of leniency, something to be negotiated or tolerated. It's often treated as a perk rather than a performance tool. But in today's environment, flexibility is a lever. When designed intentionally, it becomes the foundation of a high-performing culture. Flexibility doesn't mean lowering standards. It means creating the right conditions for optimal focus, autonomy, psychological safety, and ownership to thrive. This shift enables greater trust and unlocks discretionary effort —the kind that fuels innovation, collaboration, and long-term retention. At JPMorgan and many other companies, the full-time in-office mandate was presented as a means to cultivate connections. Yet the unintended consequence was a measurable dip in employee well-being. That's not resistance; it's feedback. True flexibility provides people with the tools, rhythms, and environments that enable them to perform at their best. One of the easiest traps for leaders to fall into is confusing visibility with value. Physical presence is easy to measure. However, if a policy prioritizes attendance over actual outcomes, it risks signaling the wrong priorities. JPMorgan's survey results highlighted that risk. Despite the return to full-time office work, employees reported lower engagement in core areas of well-being and career growth. To their credit, Dimon and Leopold acknowledged the challenge, stating, "We remain committed to flexibility and connecting you with best-in-class benefits and resources that support your well-being to help you make your best self happen." They also emphasized the importance of improving transparency around internal mobility and performance. Still, the broader question remains: if proximity doesn't lead to better collaboration, deeper mentorship, or stronger innovation, then what is it achieving? Attendance is not the same as engagement. And culture doesn't automatically improve just because people are back in the building. Leaders must be clear on the purpose of in-person work. If the goal is creativity, cohesion, or mentorship, then those outcomes need to be designed, not assumed. Company-wide surveys are a great start. But leaders can dig deeper by asking: JPMorgan's internal memo is more than just a report. It's a mirror reflecting what many companies are also navigating. Return-to-office mandates are likely to continue. However, what must evolve is the execution of office culture. If leaders focus solely on presence, they may overlook what truly drives performance: autonomy, clarity, and purpose. The real risk isn't that employees push back on returning to the office. It's that your best people come back, then quietly start looking for the exit.
Entrepreneur
10-06-2025
- Business
- Entrepreneur
JPMorgan Employees Report Lower Culture Scores: Survey
A leaked internal memo shows that more JPMorgan employees are dissatisfied with company culture compared to last year — and the return-to-office mandate is to blame. In JPMorgan's annual survey of company culture, which asks employees to assign a score to things like internal mobility, work-life balance, and health and well-being, fewer JPMorgan employees viewed their health and well-being as important to the company compared to last year. Related: JPMorgan Will Fire Junior Bankers Over a Common Practice That CEO Jamie Dimon Calls 'Unethical' In response, company leadership tied the lower scores to its return-to-office (RTO) mandate. JPMorgan ordered employees back to the office five days a week in March, prompting some staff to look for jobs elsewhere and others to sign a petition calling for hybrid work. Still, the company and CEO Jamie Dimon did not budge. "Health and well-being scores remain favorable, though they dipped slightly year on year," Dimon and Chief Human Resources Officer Robin Leopold wrote in a leaked memo to staff, which was obtained by Barron's. "We know return full-time to the office has been an adjustment and one that not everyone agrees with, but we continue to believe in-person is how we do our best work and how we foster connections and mobility opportunities." In the survey, employees also reported lower scores compared to last year for work-life balance and internal career opportunities. Dimon and Leopold reassured employees in the leaked response email that JPMorgan prioritizes "career mobility" as well as "flexibility." JPMorgan Chase CEO Jamie Dimon. Photographer: Cyril Marcilhacy/Bloomberg via Getty Images JPMorgan asks employees to take the survey once every year, and this year, 90% of its workforce, or 284,000 employees, responded to it. The participation rate was similar to previous years. Other banks have asked employees to come back to the office full-time even earlier. Goldman Sachs told U.S. employees in August 2023 that they had to work from the office five days per week. Related: Citigroup Is Sticking With a Hybrid Work Schedule. Here's Why It Gives the Bank a Competitive Advantage, According to Its CEO. However, one bank has held onto a hybrid work policy. Citigroup has decided to stick with a hybrid schedule for most of its 229,000-person staff, allowing for up to two days of remote work per week. According to a January report, Citigroup CEO Jane Fraser told directors on a quarterly call that Citigroup's hybrid work policy gave it an advantage in recruiting talented staff. JPMorgan anticipates that AI will allow it to eventually reduce employee count by 10% in some departments, including operations and account services. The bank, which is the largest in the U.S. with $3.9 trillion in assets, has grown its headcount from around 255,000 in 2020 to 317,000 in 2024.
