Remote working doesn’t suit young people who want to ‘hustle’, says JPMorgan CEO

‘I’m about to cancel all my Zoom meetings ... I’m done with it’

Louise Hall
Wednesday 05 May 2021 14:08
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<p>Jamie Dimon explained he is fed up with the system of remote working brought on by the pandemic</p>

Jamie Dimon explained he is fed up with the system of remote working brought on by the pandemic

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The CEO of JPMorgan Chase, Jamie Dimon, has said that remote working doesn’t suit young people who want to “hustle”.

The investment banking executive explained to The Wall Street Journal on Tuesday that he was fed up with the system of remote working brought on by the coronavirus pandemic and was ready to get back to the office.

"I’m about to cancel all my Zoom meetings. ... I’m done with it. I’m going to Boston today," Mr Dimon said during the newspaper’s CEO Council Summit.

He specified that in particular, the concept of working from home full time is unsustainable for younger generations.

"But it does not work for young people," he added. "It doesn’t work for those who want to hustle. It doesn’t work in terms of spontaneous idea generation.”

Concerns have often been raised regarding the impact of full-time working from home on younger or more junior employees, with experts speculating it could negatively impact their career development and welfare.

The CEO explained that the company “wants people back at work” in line with the law and coronavirus regulations.

“My view is there will be more hybrid work,” he said. “It’s just not going to change everything so dramatically.”

Mr Dimon said they are expecting 50 per cent of their workforce to be back in the office by mid-July after a phased rollout in May.

When the pandemic hit in March last year, along with officers around the world, JPMorgan employees were unexpectedly forced to adapt to home working.

Mr Dimon explained to WSJ’s editor-in-chief Matt Murray that he believes companies need to build a hybrid work model that includes flexibility but still works for "the company and the clients."

"My view is that sometime in September or October, it’ll look just like it did before," Mr Dimon said at the summit.

In a letter to shareholders reported by The Guardian in April, the CEO said that 10 per cent of the company’s employees would continue working full time from home “for very specific roles within the company.”

“Generally speaking, we envision a model that will find many employees working in a location full time,” the letter reads.

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