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Jamie Dimon Says JPMorgan Won’t Go Remote After the Pandemic

jamie-dimon-says-jpmorgan-won’t-go-remote-after-the-pandemic

JPMorgan Chase & Co. Chief Executive Jamie Dimon said many of the bank’s roughly 250,000 employees will come back to the office after the pandemic.

In his annual letter to shareholders Wednesday, Mr. Dimon said the bank expects “nearly all” of its bank-branch employees to report back to a physical location full time, as would many in critical operations and trading, among other jobs. A smaller group will work under a hybrid model, Mr. Dimon said, while perhaps 10% of employees in “very specific roles” will work from home every day.

JPMorgan’s stance on remote work is in keeping with other big banks, which have been slow to adopt large-scale hybrid arrangements and permanent work-from-home roles. One big exception is Citigroup Inc., which last month said most employees would only be expected in the office three days a week after coronavirus restrictions are lifted.

Most employees learn their jobs through an apprenticeship model, Mr. Dimon said, a setup that is “almost impossible to replicate in the Zoom world.”

“And remote work virtually eliminates spontaneous learning and creativity because you don’t run into people at the coffee machine, talk with clients in unplanned scenarios, or travel to meet with customers and employees for feedback on your products and services,” he wrote.

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