JPMorgan Revamps Child Care Benefits to Assist Working Parents

JPMorgan Chase & Co. bolstered childcare benefits to help ease the strain on employees juggling work and parenting during the pandemic as schools start reopening.

U.S. workers can get discounts on tutoring, test preparation and so-called learning pods, in which educators help guide at-home instruction for small groups of students whose schools have gone remote.

The biggest U.S. bank also is providing discounts on full-service childcare and giving workers an additional 10 days of back-up childcare on top of the 20 days already offered annually, according to a memo to staff earlier this month. JPMorgan spokeswoman Stephanie Bosh confirmed the benefit changes.

JPMorgan joins lenders like Citigroup Inc. and Bank of America Corp. in seeking to ease some of the pandemic’s toll on employees through expanded benefits after the coronavirus shuttered office buildings and schools. Many workers are struggling to balance parenting and their day jobs as many schools and daycare centers remain closed.

©2020 Bloomberg L.P.

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