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JPMorgan Chase CEO Jamie Dimon annual letter: How Wall Street will remote work, for better or worse

JPMorgan Chase CEO Jamie Dimon says the Wall Street bank will be changed by work from home post-pandemic, but he worries about undermining company culture.

JP Morgan

In the annual letter, Jamie Dimon said that 10% of JPMorgan employees will work from home full-time. With about 255,000 employees, this means more than 25,500 people can benefit from permanent remote work.

Jamie stated that on average, for every 100 employees, the bank will need to have just 60 seats.

Even though remote work would cut down the need for real estate, Jamie is more concerned about how it could affect new employees, slow down decision-making, and stifle company creativity.

HSBC

At HSBC UK, nearly 1,200 call centre employees are also set to make a permanent switch to remote working.

Meanwhile, some of the UK staff of Credit Suisse and J.P. Morgan are expected to return back to offices this coming week, putting an end to remote work.

What are your thoughts on the future of work in the financial sector?


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