JPMorgan CEO Jamie Dimon has once again expressed his views against remote working as he continues to push for all staff to be in the office five days a week.
There has been pushback from employees about the firm’s new policy on remote working. From March 2025, most employees will be required to come into the office from Monday to Friday – five years after the Covid-19 pandemic forced millions of office workers to stay at home.
A recording of a recent company town hall meeting shared with Reuters this week showed Dimon has not changed his stance on the policy, despite protests from staff and a petition.
When asked in the town hall for his thoughts on the petition, he reportedly said: “Don’t waste time on it. I don’t care how many people sign that fucking petition.”
Dimon has claimed remote working had a detrimental impact on efficiency, with staff members not paying attention during Zoom meetings. He says “the abuse that took place” during remote working “is extraordinary.”
Dimon’s view on working from home has been mirrored by many senior banking executives in the US and also President Donald Trump, who has demanded an end to remote working for federal workers.
During the town hall recording, Dimon reportedly recounted a story about a wealth management issue that needed to go through 14 committee approvals. “I feel like firing 14 chairmen of committees, I can’t stand it anymore,” he said.
He also made reference to performance reviews for the bank’s operating committee that can be up to six pages long. “Because of legal and risk, they have to look at it, the regulators might say, there could be litigation around it, so you have to be careful,” Dimon said. “I get the thing, I throw it in the goddamned garbage can.”
With JPMorgan recording its highest ever profits in 2024, some have argued that Dimon has no need to be so concerned about efficiency. Studies have so far shown conflicting evidence on whether remote working improves or reduces productivity levels in staff. Some argue it depends on the job role and personal circumstances, while others say being present at the office reduces regulatory risks and is better for team morale.
