JPMorgan Chase and Deutsche Bank are allowing employees in Saudi Arabia to work from home following a series of Houthi strikes that have heightened security concerns across the kingdom, Reuters reported, citing people familiar with the matter.
US investment firm Franklin Templeton has also temporarily closed its Riyadh office. The company has asked employees based there to work remotely until further notice, with no end date set for the arrangement, according to a source cited in the report.
The changes highlight how regional security risks can affect office operations, employee safety and business continuity. Financial firms are adjusting working arrangements while keeping some offices open for employees who prefer to work on-site.
JPMorgan and Deutsche Bank introduce remote work options
JPMorgan Chase and Deutsche Bank began offering employees the option to work from home on Sunday, a day after a strike on King Khalid International Airport in Riyadh.
However, both banks have kept their offices open for staff who wish to work in person. The arrangements give employees greater flexibility as companies respond to the changing security situation.
The measures also help employees manage family responsibilities. Saudi Arabia shifted schools to online learning during the week, adding to the need for flexibility among working parents.
Citigroup had introduced similar remote-working arrangements earlier. The bank has also emphasised employee safety amid the regional tensions.
Speaking to reporters after an earnings call on Tuesday, Citi Chief Financial Officer Gonzalo Luchetti said employee and family safety remained the bank’s top priority.
Franklin Templeton closes Riyadh office temporarily
Franklin Templeton has taken a more direct step by temporarily closing its Riyadh office and moving local employees to remote work.
According to the Reuters report, the arrangement will remain in place until further notice. The firm has not announced a date for reopening the office.
The decision reflects the need for businesses to adapt their operating arrangements when security risks affect employees and workplaces. It also highlights the role of remote work in helping companies maintain operations during periods of uncertainty.
For employers, such measures require decisions about office access, employee communication and the continuity of essential business functions.
Houthi strikes raise security concerns across Saudi Arabia
The workplace changes follow a series of Houthi strikes on Saudi Arabia over the past week. The reported incidents include an attack on Saudi Aramco’s headquarters on Tuesday and an earlier strike on King Khalid International Airport in Riyadh.
Yemen’s Houthi movement has threatened further attacks on Saudi airports and oil facilities. The group has described its strikes as retaliation for Saudi attacks on Yemen.
The escalation forms part of a wider regional conflict linked to the US-Israeli war against Iran. The developments have raised concerns for businesses operating across the Gulf.
Regional tensions affect Gulf business events
The security situation is also disrupting the Gulf’s busy conference season, which typically runs from September to December.
Saudi Arabia plans to hold its flagship Future Investment Initiative conference in a hybrid format later this month. The arrangement will allow executives to participate remotely.
For companies operating across the region, the developments underline the importance of flexible business continuity plans. Remote work can help maintain operations and reduce the need for employees to travel to offices during periods of heightened concern.
The latest decisions by financial firms also show how security conditions can influence workplace policies at short notice. Employers must balance operational needs with employee safety as the regional situation evolves.
