American Express CEO defends hybrid working, saying it makes no sense for people to trek into the office 'just to sit on Zoom'

• Returning to the office just to make phone calls "makes no sense," said American Express' CEO.
• Steve Squeri told Bloomberg that office work should be "purposeful" and involve meeting colleagues.

Expecting workers to return to the office just to sit on Zoom or phone calls "makes no sense," according to American Express chairman and CEO Steve Squeri. Instead, he said office workers should "come in with purpose."

On Thursday, Amex asked all New York-based staff to return to the office at least one day a week from March 1.

From March 15, individual managers will then decide how their teams work in the future, under the company's Amex Flex policy.

Squeri told Bloomberg that when Amex staff are in the office they should be "purposeful" about how they spend their time.

"They're not gonna sit on a Zoom call all day. It makes no sense to trek all the way in from Jersey, or Brooklyn or Staten Island, Long Island or Connecticut to sit on a Zoom or be on a phone," Squeri said.

"Meet with your colleagues, interact and have the meetings," he added. "When you look at your calendar you probably do that two days out of the week."

The bank first announced its "Amex Flex" Hybrid working model in October. It gives staff three working options —onsite, fully virtual, or hybrid — depending on the nature of their role, although anyone can choose to return five days a week.

Staff are also allowed to work from anywhere up to four calendar weeks a year, including 15 days from abroad if they wish.

Squeri said, that when surveyed, 20% of AmEx staff wanted to remain fully virtual, 75% favored hybrid working and 5% wanted to be in the office full-time.

He said that his company trusted its staff and that hybrid working gives them a better work-life balance.

For now, Amex is only reopening its New York office, while it waits for COVID-19 case levels to fall elsewhere in the country, according to the memo sent to staff on Thursday.

Workers will need to be vaccinated and have received a booster vaccine if they wish to work in, or attend, any of the firm's offices, unless medically exempt.

Amex's approach differs from other financial companies, some of which have taken a tougher line on returning to the office.

Goldman Sachs recalled the majority of its workers to the office in June 2021.

JPMorgan asked staff to return no later than Feb 1. Citigroup will allow staff to work remotely up to two days a week.