BlackRock Asks Employees To Resume Full-Time Office Four Days A Week

BlackRock, Inc (NYSE:BLK) became the latest company to curtail liberal work-from-home policies by urging employees to return to the office at least four days a week.
The New York-based asset manager said that from September 11, staff could work from home just one day a week, Financial Times cites an internal memo.
In April, JP Morgan Chase & Co (NYSE:JPM) urged managing directors to return to the office five days a week.
Office occupancy in New York City is still just under 50% — about the same as the national average per Kastle Systems.
BlackRock's directive adds a day to its current requirement of three days a week in the office to encourage collaboration and training.
BlackRock moved into a new headquarters in Manhattan's Hudson Yards development at the beginning of 2023, bringing employees from its old Midtown office during the year's first quarter.
It signed the lease for the unbuilt 970,000-square-foot space seven years ago.
BlackRock employees can work remotely for two weeks a year during a "relevant" time, such as the summer.
BlackRock emphasized the urgency of physical presence to tap the fast-moving, high-client-interest events.
Simultaneously, Tesla Inc (NASDAQ:TSLA) chief Elon Musk has never failed to express his opposition to remote work.
Price Action: BLK shares traded higher by 0.75% at $638.58 on the last check Wednesday.