Reportedly, American Express Co (AXP) will allow most employees to work from home for up to two days a week permanently, unveiling a hybrid back-to-office approach. As per an internal memo by AmEx Chief Executive Officer Stephen Squeri, most of the U.S. and U.K. staff of the credit card issuer will have the choice to work remotely on Mondays and Fridays starting October.
AmEx is planning to bring back employees to the office starting Sept. 13, with a motive to fully adopt the hybrid model in the week of Oct. 4. The first three weeks will be a “transition period” to allow employees to “get used to” going to the office. Occupancy will be restricted to 50% and most of the staff will work in the office only two days a week during the period, the memo informed.
AmEx employees who worked full-time from home before the pandemic hit will continue to do so, while those who cannot “perform their jobs effectively” from home will be required to go to the office daily, the memo added.
Other major banks JPMorgan Chase & Co and Goldman Sachs Group Inc have also begun bringing employees back to their U.S. offices on a rotational basis.
Dow 30 component American Express Company (AXP), and its subsidiaries provide customers and businesses globally with charge and credit payment card products and travel-related services. They look to enrich the lives of their customers and build business success. To learn more about American Express Company (AXP) and to continue to track its progress please visit the Vista Partners American Express Coverage Page.
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