Google expects 20% of its workforce will telecommute permanently

Google says it will continue to embrace a hybrid work model after the coronavirus pandemic is over.

GOLDMAN SACHS' US EMPLOYEES TO RETURN TO THE OFFICE IN JUNE

A spokesperson for the tech giant confirmed to FOX Business on Wednesday that it expects about 20% of its workforce will be permanently allowed to telecommute, while another 20% will work in new office locations and the other 60% will work on site for a few days per week. 

Ticker	Security	Last	Change	Change %
GOOGL	ALPHABET INC.	165.04	-10.94	-6.22%

The move is a more relaxed approach after Google said in December that all employees would spend approximately three days in the office and two days wherever employees work best. However, the spokesperson acknowledged Wednesday that some roles may need to be on site more than three days a week due to the nature of their work or level of autonomy required.

In addition, Google employees will now have the opportunity to temporarily work from a location other than their main office for up to four weeks per year, an increase from the previous two weeks allotted, according to the spokesperson. All Google employees are encouraged to continue working remotely through September. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Google's competitors have instituted similar policies. 

Ticker	Security	Last	Change	Change %
TWTR	NO DATA AVAILABLE	-	-	-
FB	NO DATA AVAILABLE	-	-	-
MSFT	MICROSOFT CORP.	413.37	-1.29	-0.31%

Twitter previously announced back in May 2020 that it would let its employees work from home indefinitely and Microsoft said last month that it would give employees the choice to return to its facilities, work from home, or a mix of both. 

Meanwhile, Facebook said last month that it would open its offices on a rolling basis, bringing employees back gradually. Facebook employees are allowed to continue working from home until July 2. However, after that date, any employees who are not full-time are allowed to continue working from home until one month after their office reopens at 50% capacity.  

CLICK HERE TO READ MORE ON FOX BUSINESS

Facebook isn't the only company summoning its employees back to the office. Both JPMorgan and Goldman Sachs are asking employees to prepare to return later this summer as well. 

Ticker	Security	Last	Change	Change %
GS	THE GOLDMAN SACHS GROUP INC.	595.92	+14.10	+2.42%
JPM	JPMORGAN CHASE & CO.	243.34	+2.54	+1.05%

Goldman executives told U.S. employees in a memo to make plans to return to the office beginning June 14, while the company's U.K. employees have been asked to return June 21. Individuals who are unable to return to the office are encouraged to discuss alternative plans with their manager, or the company's wellness department if the decision is for specific health reasons. The company added it will consider the potential for rotational schedules where applicable and is extending the deadline to use COVID-19 Family Leave to Sept. 30.

At a Tuesday conference hosted by the Wall Street Journal, JPMorgan chairman and CEO Jamie Dimon said that by mid-July, employees will return to the office on a rotational basis, subject to health mandates that require a capacity of 50% in office spaces.

JPMorgan employees in the U.S. have been told to "get used to" the fact that they will be expected to work in the office one or two days per week beginning May 17 to get reacclimated.  

Ticker	Security	Last	Change	Change %
WFC	WELLS FARGO & CO.	75.27	+1.70	+2.30%

 Wells Fargo is also looking to bring its employees back by September, though specific return to work plans remain fluid.