Fed up with zoom calls and remote work, Jamie Dimon says office commuting is making a comeback
Jamie Dimon, CEO of JP Morgan Chase, speaks at the WEF 2019 in Davos, Switzerland on January 23, 2019.
Adam Galica | CNBC
Jamie Dimon is not a fan of the new remote work structure that took hold during the coronavirus pandemic.
JPMorgan Chase chairman and CEO has already told U.S. employees to get used to the return this month with a goal of having 50% of workers move through offices by July. While he agrees with the greater flexibility that employees part-time from home have, he said that Tuesday is no substitute for being in the office.
“We want people to go back to work, and I think sometime in September and October it will look the same as it did before,” said Dimon on the Wall Street Journal’s CEO Council. “And everyone will be happy with it, and yes, the commute, you know people don’t like to commute, but so what.”
While remote work and video conferencing tools like Zoom were critical in keeping Wall Street traders and bankers able to keep working during the pandemic, CEOs like Dimon’s David Solomon and Goldman Sachs expressed dissatisfaction with the new model. This is in contrast to tech companies like Facebook and Twitter, who have announced a permanent shift to remote working for those who so choose.
“I’m about to cancel all of my Zoom meetings,” said Dimon. “I’m done with it.”
To illustrate this, Dimon said he was “full of ideas” after a trip to California last year that he wouldn’t get from Zoom meetings.
He also said clients told him that when JPMorgan lost business to rivals it was because “bankers from the other guys were visiting and ours were not. Well that’s a lesson.”
Depending on their roles, employees can still work remotely, Dimon said. JPMorgan cannot currently require workers to be vaccinated and it will not compel those who object for religious or health reasons, he said.
The move to part-time remote work will “not change everything so dramatically,” he said. “It accelerated a trend, but it doesn’t work for younger people. It doesn’t work for those who want to be hectic, it doesn’t work in terms of spontaneous generation of ideas.”
Still, not everyone at JPMorgan is excited about the prospect of more time in the office.
“A man’s wife sent me a nasty message,” How can you get him to go back? “Said Dimon.
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