UBS, the largest bank in Switzerland, is getting tougher on its work from home policy. The Swiss banking giant UBS has so far largely resisted following rivals like JPMorgan and Goldman Sachs, who have mandated a full return to office. UBS bank has, however, now taken a leaf out of another rival’s approach. The Swiss Bank has added to its three days compulsory work from office policy. In an internal memo circulated last week, first reported by Finews, UBS told employees that they would be required to work from the office at least three days a week. In addition, the bank told its 115,000 employees that they would no longer be able to work from home on a Friday followed by a consecutive Monday. For those unaware, UBS Group AG is Switzerland’s largest bank by assets and a global financial powerhouse.
“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,” a UBS spokesperson told Fortune. The same message was also reportedly shared with employees in the internal memo shared company wide.
The approach is similar to that of Deutsche Bank last year, which, called staff back to the office, drew a new line in the sand by banning remote Fridays and Mondays. In February 2024, the bank mandated that employees abstain from working remotely on Fridays and the subsequent Mondays, aiming to balance office presence throughout the week.
Adding to the stricter rules, the Deutsche Bank AG agreed new work-from-home rules with labour representatives in November 2024. The deal extended tighter office attendance requirements for Deutsche Bank’s employees in Germany, calling them into the office at least three days a week. The changes had gone live for Deutsche Bank AG employees in most locations earlier.
America’s largest bank JP Morgan ends work from home
America’s largest bank JPMorgan Chase ended work from home starting this month. The Bank made it mandatory for employees to work from the office all five days a week. JPMorgan CEO Jamie Dimon dismissed employee demands to relax the Bank’s five-day return-to-office policy. During an animated town hall meeting last month, some employees reportedly asked the management to reconsider the strict work-from-office requirement. However, Dimon made it clear that such requests would not be entertained. “Don’t waste time on it. I don’t care how many people sign that f***** petition,”* he reportedly said.
