Jamie Dimon was on a client call last week and pushed back on remote work.
He told them to look at the flaws of the world. It's not good for an apprenticeship program. It doesn't work for things that happen spontaneously.
Half of the workforce has been asked to come back to work five days a week. Data on worker activity is being collected by the bank as part of its return to office push.
He said that remote work slows down honesty and decision making.
When you do it from home, you tend to say, okay, we'll pick this up tomorrow. When I say it, people laugh. A lot of people at home on a call are texting each other and sometimes saying what a jerk that person is.
In the past, Dimon has supported in-person work. At a conference hosted by the Wall Street Journal in May, the bank's CEO said remote work doesn't work for people who want to hustle, and that the bank's in-office attendance will return to pre-pandemic levels by September.
On the client call last week, Dimon said that working in the office is better for diversity.
We want different things. He said it was a rainbow room when he came to work. It's all white in certain parts of the country. You aren't meeting other people.
In his letter to shareholders, he noted that the bank "learned that we could function virtually with Zoom andCisco and maintain productivity, at least in the short run," but also highlighted some "serious weaknesses" of the virtual world.
It's clear that working from home will become more permanent in American business, but it needs to work for both the company and its clients.
Last week's client call was not commented on by a JP Morgan spokesman, who pointed to previous comments by the bank's CEO on remote work.
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