JP Morgan CEO Jamie Dimon slams Work From Home petition, then fires employee for this

JPMorgan CEO Jamie Dimon shuts down a petition against the five-day return-to-office mandate, calling remote work ineffective.

Transcript

00:00Now, you have a choice. You don't have to work at JPMorgan.

00:03About 950 people had signed a petition against a five-day return to office mandate at JPMorgan

00:09and this is how their CEO Jamie Dimon responded.

00:12I can't stand it anymore.

00:14Dimon fiercely criticized the work-from-home culture during a town hall meeting in Columbus, Ohio.

00:20And he wasn't holding back.

00:21It simply doesn't work.

00:23Nicholas Welch, an employee, was reportedly fired after questioning the return to office mandate

00:28while dealing with the divorce and childcare issues.

00:31It doesn't work for creativity. It slows down decision-making.

00:34And don't give me the s**t that work-from-home Friday works.

00:37I call a lot of people on Friday. They're not a godd**n person you can get a hold of.

00:41But here are the problems, okay, and they are substantial, okay,

00:46which is the young generation is being damaged by this.

00:49They may or may not be on your particular staff, but they are being left behind.

00:53They're being left behind socially, ideas, meeting people.

00:57Out of the companies Bringing Bank returned to office in 2024, 81% think it will boost revenue.

01:03Another 81% say it will level up company culture.

01:06And 83% believe it will make employees more productive.

01:10In Dimon's defense, he emphasized that if the CEO can't come in, then why not the employees?

01:15And, you know, I come in, you know, I've been working seven days a godd**n week since COVID.

01:19And I come in and I'm like, where's everybody else?

01:22But here and there and the Zooms, and the Zooms don't show up.

01:26According to Forbes, JP Morgan outperformed all expectations in 2024,

01:30raking in $42.7 billion in total revenue.

01:33That's a 7% jump from the previous year, despite their employees working from home.

01:38Well, let's just weigh the pros and cons of the work from home culture.

01:41According to a Goldman Sachs report, over the past decade, there have been mixed results,

01:46with productivity impacts ranging from minus 19% to positive 13%.

01:51Cutting out the commute can boost mental health and reduce distractions.

01:54But not always.

01:55Hybrid workers are often just as productive as full-time office workers,

01:59are less likely to quit, and can save companies money on office costs.

02:03No wonder over 20% of businesses are planning to make remote work a permanent model,

02:08according to the latest UK stats.

02:10The cons? Remote work misses out on non-verbal cues and spontaneous interactions

02:15that fuel collaboration and innovation.

02:17The absence of an office environment can make it harder for some to stay focused and motivated.

02:22Well, what do you think? Is JP Morgan out of touch, or does Diamond have a point?

02:26Drop your thoughts in the comments below.