Wall Street investment banks JPMorgan and Bank of America are introducing measures to tackle the always-on work culture, particularly after the death of a junior banker.
JPMorgan is restricting junior banker hours to 80 a week, implementing a 'pencils down' period from Friday evening to Saturday noon, and guaranteeing one weekend off every three months.
Bank of America is launching new timekeeping software that requires daily logging of hours and details of ongoing projects, aiming to enforce their 80-hour cap for junior bankers more rigorously.
The shocking death of Leo Lukenas III, who succumbed to a blood clot while logging over 100-hour workweeks, has intensified scrutiny of the investment banking industry's demanding culture.
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