The US investment bank had already relaxed its dress code for technology staff , but is now extending the change to the majority of its 36,000 employees . A memo to staff from new CEO David Solomon and two other senior executives said that the change reflected the “ changing nature of workplaces generally in favour of a more casual environment ” . Over 75 % of Chase ’s employees are millennials and the bank is competing with hedge funds and investment firms , which tend to offer more relaxed workplaces . JPMorgan Chase relaxed its own dress code three years ago .
The US investment bank had already relaxed its dress code for technology staff, but is now extending the change to the rest of its 36,000 employees. A memo to staff from new CEO David Solomon and two other senior executives said that the move reflected the “changing nature of workplaces generally in favour of a more casual environment”. Over 75% of Goldman’s employees are millennials and the bank is competing with hedge funds and tech firms, which tend to offer more relaxed workplaces. JPMorgan Chase relaxed its own dress code three years ago.