JPMorganChase CEO Jamie Dimon said during a Wednesday town hall he didn’t care how many employees signed a petition to bring back hybrid work. The company in mid-January announced a 100% return-to-office mandate, which angered many employees, who argue the move “disproportionately” pushed out women, caregivers, senior employees, and employees with disabilities.
Tell me JP Morgan is underwater on commercial real estate without telling me JP Morgan is underwater on commercial real estate
Well eliminating a self selecting group of disproportionately high performers certainly won’t hurt them long term.
This is the true answer. Yes, there is some boomer powerplay aspect, but he is not stupid, he’s all about making more money.
His rich and powerful investor “friends” are bleeding money on commercial real estate (and maybe on related investments like downtown coffee shops), they put a lot of pressure on him. I go even further, it is not a coincidence that more companies started pushing for full time RTO at the same time, this is orchestrated or at least encouraged from behind the scenes by the elite, probably also involving some politicians (who are also neck deep in commercial RE).
Still, it is absolutely stupid and short sighted. I live close to my office, so I like to go in a few times a week, but I would never want to be there full time again.