JPMorgan Chase CEO has a tough message for federal employees

JPMorgan Chase (JPM) CEO Jamie Dimon has a prime pet peeve: how often federal employees work in person within the nation’s capital.

Throughout an appearance at The Atlantic Festival, which happened in Washington, D.C., last week, Dimon said that he is greatly surprised by the volume of federal employees which are working remotely, and that he would “make Washington, D.C., return to work.”

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“I'm ready to’t accept as true with, once I come down here, the empty buildings,” said Dimon. “The people (who) will offer you the consequences you wish in the meanwhile should not going to the office anymore. That bothers me. I don’t allow that at JP(Morgan Chase).”

Throughout the Covid pandemic in 2020, many federal agencies adopted hybrid/remote work schedules so that you could slow the spread of the virus. As of May this year, about 50% of federal workers are in roles that in the meanwhile should not eligible for remote work, according to a newest report from the united statesOffice of Management and Budget. Also, federal employees who're in remote-friendly positions have spent about 60% of their regular work hours working in person at offices.

Jamie Dimon vs. remote work

Dimon has made it clear multiple times that he is now not a fan of remote work. After allowing Chase employees to work remotely at some stage within the first few months of the pandemic, the bank pushed for a September 2020 in-office return, which changed into indirectly delayed thanks to yet another Covid outbreak.

By May 2021, Dimon claimed at The Wall Street Journal CEO Council that he changed into “done” with Zoom meetings and that he aimed for staff to come again to offices within the following couple of months, despite concerns about commuting to work.

“We want people back to work, and my view is that sometime in September, October it'll look a lot adore it did before,” Dimon said at The Wall Street Journal CEO Council. “And people are going to be happy with it, and yes, the shuttle, you recognize people don’t like commuting, but so what.”

Chase later enforced a mandate (which still stands) in April 2023 that permits employees to work as a minimum three days every week within the office, but states that managing directors are expected to work within the office five days every week. After facing backlash over the mandate, Dimon claimed during an interview with The Economist in July 2023 that if any of his employees have an argument commuting to work day by day, they are ready to to seek out yet another job.

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"I completely be mindful why a person doesn't want to shuttle an hour and a 1/2 day by day, totally got it," said Dimon within the interview with The Economist. "Would now not mean they have a job here either."

Remote work is a growing number of facing the chopping block at multiple companies across the U. S. of a. Most notably, Amazon sent a memo to its employees on Sept. Sixteen claiming that by Jan. 5, 2025, teams will return to working in offices five days every week.

As remote work continues to dissipate, many employees across the U. S. of a claim that working from home makes them more productive at their jobs. Consistent with a newest survey from USA Nowadays, simplest Sixteen% of white-collar workers said that they’re more productive working within the office, when put next to the forty six% who said they are more productive working from home.

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