JPMorgan Chase & Co (NYSE:JPM) and Bank of America Corp (NYSE:BAC) are implementing new measures to monitor and limit junior bankers’ work hours. What Happened: Both banks are responding to a detailed report on the hazardous overwork culture in investment banking. The Wall Street Journal investigation revealed that junior bankers at Bank of America were often instructed to falsify their work hours to avoid surpassing limits. JPMorgan Chase will …

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Benzinga

New York

United States

Wall Street Banks Enforce 80-Hour Weekly Limit For Junior Bankers As JPMorgan And Bank Of America Address Overworking Issues Following Tragic Incident: Report - Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM)

Leo Lukenas III, 35, died in May after working multiple 100-hour weeks

Ad Fontes Media

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The Independent

Evgeny Lebedev

London

Greater London

England

United Kingdom

Bank caps work hours for junior staff at 80 a week after young banker’s death

Two of Wall Street’s largest banks are reportedly planning to clamp down on the number of hours that junior bankers work per week in the wake of outrage over the tragic death of a 35-year-old Bank of America associate who logged 100-hour work weeks. Bank of America — which came under scrutiny after staffer and...

New York Post

Murdoch family

JPMorgan, Bank of America to crack down on long work-hours after death of Leo Lukenas — who logged 100 hours per week

Also Murdoch voting rights, OpenAI financing, index inclusion and ESG-based pay.

Bloomberg

Michael Bloomberg

The Vanguard Group

Howard Buffett

BlackRock

Bankers’ Hours Are Still Pretty Bad

JPMorgan is capping junior bankers' hours, as concerns about overwork across the industry mount.Mike Kemp/In Pictures via Getty ImagesJPMorgan Chase and Bank of America are taking steps to limit junior bankers' work hours.The move follows scrutiny over Wall Street's culture of overworking and a recent death.Peers like Morgan Stanley and Goldman Sachs have no such working hour caps.Two Wall Street banks are cracking down on young bankers' working…

Business Insider

JPMorgan just capped bankers' work at 80 hours a week — but there's still one big exception

JPMorgan Chase & Co. will limit junior banker hours to 80 per week in most cases, according to a person with knowledge of the matter

JPMorgan to cap junior banker hours, BofA monitors workload amid complaints

Business Standard

Business Standard Private Limited

India

JPMorgan and Bank of America are cracking down on the industry’s infamous always-on culture.

Fortune

Chatchaval Jiaravanon

JPMorgan just capped junior bankers’ hours—at 80 per week

JPMorgan adds 80-hour weekly cap and Bank of America revamps timekeeping after a Wall Street Journal investigation highlighted investment banking’s work-obsessed culture

Wall Street Journal

Exclusive | Wall Street Curbs Young Bankers’ Hours After Overwork Outcry

JPMorgan Chase will limit bankers to 80 hours per week because junior bankers are burning out Quartz
Bank of America, JPMorgan consider 80 hours the max for junior banker work weeks Axios
High pressure, long days, crushing workloads: why is investment banking like this? Financial Times
Exclusive |…

BizToc

JPMorgan Chase will limit bankers to 80 hours per week because junior bankers are burning out

Some junior Wall Street bankers disclosed that they worked over 100 hours per week. Now, JPMorgan Chase and Bank of America are curbing employee hours.

JP Morgan Chase caps bankers’ week at 80 hours

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