The largest American bank recently told it workers that it expects all U.S.-based employees back in offices on a rotational basis by early July, subject to current public health rules
Last Updated at May 5, 2021 07:14 IST
By Elizabeth Dilts Marshall
NEW YORK (Reuters) – Working from home does not work for everyone, especially those who want “to hustle,” JPMorgan Chase & Co’s chief executive said on Tuesday at a conference in New York.
The largest American bank recently told it workers that it expects all U.S.-based employees back in offices on a rotational basis by early July, subject to current public health rules limiting office capacity to 50%.
Bank CEO Jamie Dimon said he wants people back at work because exclusively working from home “doesn’t work for young people.”
“It doesn’t work for those who want to hustle. It doesn’t work for spontaneous idea generation. It doesn’t work for culture,” Dimon said at a conference hosted by the Wall Street Journal.
Dimon said he is open to some employees working from home a few days a week, a policy other banks like Deutsche Bank, HSBC and UBS are reportedly exploring.
But starting on May 17, Dimon said he wants employees bank in the office a few days a week to reacclimate themselves to the workplace after working from home for over a year during the COVID-19 pandemic.
Dimon’s “get used to it” approach, which could include requiring employees get vaccinated, has faced a backlash. Dimon said he received a “nasty email” from an employee’s wife who disagreed with the push to return to work.
“But that’s life,” Dimon said, saying the bank will be more competitive and work better for clients with employees meeting in person again.
“In my view, September, October, it will look just like it did before and everyone’s going to be happy with it.”
(Reporting by Elizabeth Dilts Marshall. Editing by Mark Potter)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.