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JPMorgan Chase CEO Jamie Dimon renewed his opposition to remote work, dismissing employee concerns about the bank's strict five-day return-to-office mandate that sparked a 2,000-signature internal petition earlier this year.
Speaking at the Future Investment Initiative alongside Goldman Sachs' David Solomon and BlackRock's Larry Fink, Dimon argued that junior bankers suffer when working from home. "I'm not making fun of Zoom, but younger people are being left behind," he said. "If you look back at your careers, you learned a little bit from the apprentice system. You were with other people who took you on a sales call or told you how to handle a mistake or something like that.
It doesn't happen when you're in a basement on Zoom."
Jamie Dimon's profanity-laced response sparked controversy
The comments follow Dimon's heated town hall earlier this year where he infamously responded to the employee petition, telling staff, "I don't care how many people sign that f—ing petition," Reuters reported. He later apologised for cursing but maintained his stance, saying employees who wanted flexibility could find work elsewhere.The petition, launched after JPMorgan ended hybrid work for over 300,000 employees in January, called the mandate "a great leap backward" that hurts employees, customers, and shareholders.
Fortune reported that workers complained about inadequate desk space, spotty Wi-Fi, and increased childcare and commuting costs during the March rollout.
JP Morgan and its executives continues to defend in-person work despite employee pushback
In a Stanford Graduate School of Business interview, Dimon characterised remote work supporters as "people in the middle who complain a lot about it." He contrasted them with frontline workers who never had remote options during the pandemic.The bank's new $3 billion, 60-story Manhattan headquarters—which opened earlier this month—will house approximately 10,000 employees. JPMorgan ended its hybrid policy that allowed roughly 40% of staff to work remotely two days weekly, a system implemented after the 2020 pandemic.CFO Jeremy Barnum told investors the RTO mandate wasn't designed to drive attrition but represented a "strategic decision for the company," Fortune reported.
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