All But Core Employees Will Be Given 4 Hours Off
June 17, 2020
On Friday, in honor of Juneteenth, all Chase branches nationwide will close at 1 p.m. Outside of the Chase branches, the bank will provide opportunities for U.S. employees, if their role permits, to end their workday at 1 p.m. if they want time for reflection and self-development.
A bank spokesperson said Chase will pay those hourly U.S. employees who are scheduled to work on Friday afternoon for a full day. For those hourly employees in core functions who must come in, Chase will pay them for an additional four hours in addition to their regular pay.
Jamie Dimon, CEO of JPMorgan Chase, sent a message to all U.S. employees saying the move was made “out of deep respect for the suffering that the Black community has endured over hundreds of years and in recognition of the high esteem in which we hold our Black community at JPMorgan Chase.”
Dimon added, “Juneteenth celebrates African American emancipation and freedom. Closing the branches enables many of our colleagues to join in the celebration and reflect on not only America’s achievements, but also its enduring effort to acknowledge its flaws and become a better nation.”
“How many of the community banks here believe their customer service is average or below average?”
The Bottom Line
Most financial institutions have tremendous excess capacity in their existing branches today.