JPMorgan chief Jamie Dimon sees long-term damage if people don't return to work
The JPMorgan Chase & Co. chief executive officer, who's been going into the bank's offices since June, said he sees economic and social damage from a longer stretch of working-from-home. Governments should be focused on cautiously reopening cities, learning from earlier mistakes made in hasty attempts, he said.
Dimon told analysts at Keefe, Bruyette & Woods that the firm has noted productivity slipping from employees working at home, the analysts said in a September 13 note to clients. That, along with worries that remote work is no substitute for in-person interaction, is part of why the biggest US bank is urging more workers to return to offices in coming weeks.
Dimon's call comes amid a report JPMorgan sent some of its Manhattan workers home this week after an employee in equities trading tested positive for COVID-19. A JPMorgan spokesman said he couldn't comment on any one case but that the bank has been "managing individual cases across the firm over the course of the last few months and following appropriate protocols when they occur."
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