JPMorgan and Bank of America to Curb Young Banker Work Hours, WSJ Reports.

J.P. Morgan Chase & Co. ; BANK of America Corp. 055169452

JPMorgan Chase and Bank of America, two major investment banks, are implementing measures to address concerns about the long work hours of junior bankers. JPMorgan will limit junior banker hours to 80 per week, with exceptions for completing live deals. Bank of America is launching a new internal platform to monitor individual workloads more closely. These changes come as demands on junior bankers have increased, and after the death of a Bank of America associate sparked a debate about unhealthy workloads. The weekly cap on hours at JPMorgan aligns with New York state regulations for medical residents. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)