JPMorgan and Goldman Sachs Temporarily Loosen Office Rules for the World Cup

JPMorgan Chase and Goldman Sachs are allowing U.S. employees to work from home during the World Cup, citing expected congestion and disruptions on public transit and roads in host cities. According to the Financial Times, both banks told staff that while the tournament runs through July 19, employees can request remote work on match days.

The move marks a sharp reversal for two firms long seen as the strongest opponents of remote work. Goldman Sachs was among the first major banks to end work-from-home policies in 2021, and JPMorgan last year ordered employees back to the office five days a week. Citigroup, which has kept a more flexible post-pandemic policy, has also encouraged staff to stay home on game days, according to people familiar with the matter. The banks did not comment.

The decision comes as hundreds of thousands of soccer fans are expected in New York and New Jersey in the coming weeks. Eight World Cup matches will be held there, including the final, which is scheduled for MetLife Stadium in New Jersey.

The article also noted a separate study finding that permanent remote work increases anxiety and loneliness, while hybrid work, two or three days a week from home, raises satisfaction and reduces turnover. Adolfo Covas of New York University told The Wall Street Journal that working from home part-time offers flexibility and better work-life balance without the social isolation often tied to fully remote work. Separately, Ecuadorian President Daniel Noboa announced a freeze on alcohol taxes until July 19, cutting wine and beer prices by more than 20% ahead of Ecuador's first tournament match against Ivory Coast.