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JPMorgan's Jamie Dimon is quietly telling senior managers he wants workers back in the office five days a week: Banking giant is building $3B, 70-story office tower on Park Ave - and doesn't want it to be empty
Daily Mail (U.K.) ^ | August 26, 2022 | Claudia Aoraha

Posted on 08/26/2022 10:38:34 AM PDT by Cecily

JP Morgan's CEO Jamie Dimon has been telling senior managers that he wants rank and file bankers back in the office five days a week in a dramatic shift from their hybrid working model.

The finance giant is currently building a $3billion 70-story office tower on New York's prime Park Avenue - and Dimon is said to be worried that it'll sit empty if staff continue to work from home multiple days a week.

The investment bank's titan has emphasized the company's apprenticeship model - where staff work collaboratively and learn from one another in the office environment.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Business/Economy; News/Current Events; US: New York
KEYWORDS: jamiedimon; jpmorgan
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To: Cecily

it doesn’t work that way...

for one, mentors aren’t assigned, it starts as friendship, it’s a developed relationship one on one, and you don’t do that from home.

when all the oldhands are gone, good luck.


41 posted on 08/26/2022 11:54:52 AM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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To: Cecily
The investment bank's titan has emphasized the company's apprenticeship model - where staff work collaboratively and learn from one another in the office environment.

One of the reasons 'drones can work from home' is because collaborative workers came up with well defined team member jobs. Five years from now if 'the drones' are still working from home productivity will have dropped. Jamie Dimon's right on this...

42 posted on 08/26/2022 11:57:29 AM PDT by GOPJ (Merrick's proud the DOJ & FBI are being renamed "Lavrentiy Beria Society' in honor of Joseph Stalin.)
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To: AU72

I think I’ve read that only about forty percent have returned to the office. Pretty scary for the economy if true.


43 posted on 08/26/2022 12:02:11 PM PDT by TalBlack (We have a Christian duty and a patriotic duty. God help us.)
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Good luck not getting assaulted on the walk to the bank.


44 posted on 08/26/2022 12:28:04 PM PDT by Gene Eric (Don't be a statist!)
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To: McGavin999
You are 100% wrong about this. What has happened here is that the ridiculous response to COVID forced companies and employees to adapt quickly to a chaotic situation — and they adapted very well. For many jobs, telling employees they must come back to the office because the company doesn’t want to waste a $3 billion office building is like telling people they shouldn’t use e-mail because the company has dozens of perfectly good fax machines.

A recent anecdote lays it all out clearly. This was from a conversation with a peer in my industry over the challenges his company is facing in getting people back to work in NYC …

1. The company announced earlier this year that everyone had to be in at least three days per week.

2. Six good employees immediately left to work elsewhere … and in their exit interviews they all said they were adamant about never going back to New York.

3. They posted job listings for the six vacant positions.

4. Every single applicant for those positions made it clear that they will only work remotely.

5. The company is going to be backtracking on their original plan, and they have already approached the landlord in their building about subletting most of the space for the next 2-3 years before they vacate the place entirely.

45 posted on 08/26/2022 1:24:49 PM PDT by Alberta's Child ("It's midnight in Manhattan. This is no time to get cute; it's a mad dog's promenade.")
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To: Cecily

“... where staff work collaboratively ...”

A principle practiced by not only Morgan but other financial giants like Goldman-Sucks: When operating a conspiracy keep your co-conspirators close together and totally dependent upon each other.


46 posted on 08/26/2022 1:27:14 PM PDT by RetiredTexasVet (Biden not only suffers fools and criminals, he appoints them to positions of responsibility. )
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To: Cecily

People don’t want to be office drones anymore. A lot of resignations are in Jamie’s future.


47 posted on 08/26/2022 1:33:22 PM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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To: Alberta's Child

Well then let them starve. If they can’t get off their dead a$$ and go to work I have no pity for them. I don’t happen to think employers should be held hostage by their employees.


48 posted on 08/26/2022 1:41:16 PM PDT by McGavin999
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To: Cecily

Work from home will continue for the time being, but I expect the next recession will shake that out and force most employees back to the office. It’s all about supply and demand, and right now the demand for workers exceeds the supply.


49 posted on 08/26/2022 1:51:56 PM PDT by Mozzafiato
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To: McGavin999
The corporate and government leaders in NYC were the ones who sent them to work from home in the first place. They have nobody but themselves to blame for this dystopian mess.
50 posted on 08/26/2022 1:57:35 PM PDT by Alberta's Child ("It's midnight in Manhattan. This is no time to get cute; it's a mad dog's promenade.")
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To: Alberta's Child

I’ll tell you this. Everything goes in cycles. Soon there will be a time when layoffs are happening everywhere, people will be struggling to find work. Those who made demand and were uncooperative will be unemployed and most will find their attitude made them unemployable.


51 posted on 08/26/2022 2:06:18 PM PDT by McGavin999
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To: Mozzafiato

It’s all about supply and demand, and right now the demand for workers exceeds the supply.
_____________________________________________________________

With the excess All Cause Deaths being recorded worldwide, it seems a larger problem may interfere with Jamie’s plans. Too many gone and a lot of things no longer work properly(electricity, supply chains, water purification plants, etc).


52 posted on 08/26/2022 2:12:18 PM PDT by JCL3 (As Richard Feynman might have said, this is reality taking precedence over public relations.)
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To: Jotmo

Because people expect it. So if I put it off, it goes from something that I can fix in a few minutes and turns into a problem for my boss. If he punches out (which he has threatened to do), then I have to deal with these idiots because I’m old, I know all the stuff and my boss’s 2nd in command can’t write an email in English.

There’s a pension involved. Otherwise, I would literally walk across the street from the office and get a job making more money.


53 posted on 08/26/2022 2:12:36 PM PDT by AppyPappy (Biden told Al Roker "America is back". Unfortunately, he meant back to the 1970's)
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To: McGavin999
Having worked in corporate management for many years, I can tell you that forcing people to come back to an office after they’ve been functioning perfectly well at home is not something any CEO with half a brain is going to consider.

A more likely approach is to slash overhead costs by eliminating costly office space and sending people to work from home 100% of the time.

When you work from home you are using office space that YOU are paying for — not the company. Any CEO who hasn’t figured this out yet — and made cost-saving plans accordingly — is retarded.

54 posted on 08/26/2022 2:15:50 PM PDT by Alberta's Child ("It's midnight in Manhattan. This is no time to get cute; it's a mad dog's promenade.")
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To: HartleyMBaldwin

It’s life as a Developer. I’d like to do it for a few more years but not if anyone expects me to be “in charge” when I am the 2nd lowest paid person on the team (It’s an IT thing. Newest people get paid the most). I’m tired of hearing “Why hasn’t this been done?” when the answer is “Because I don’t have rights to do it”.


55 posted on 08/26/2022 2:16:06 PM PDT by AppyPappy (Biden told Al Roker "America is back". Unfortunately, he meant back to the 1970's)
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To: Alberta's Child

I disagree. There is no employee development for those working from home. Long term leases and mortgages would be disastrous for corporations. The damage done to surrounding and support businesses is incalculable. Beyond all that, the arrogance of an employee telling their employer they don’t have to do what the employer says would absolutely put them first on the “To go” list when the economy changes.


56 posted on 08/26/2022 2:22:15 PM PDT by McGavin999
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To: Chode

At my previous job, I was able to mentor/train my group remotely. WebEx/Zoom work well in one-on-one situations, provided that all parties are motivated.


57 posted on 08/26/2022 2:30:52 PM PDT by kosciusko51
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To: kosciusko51

what does the group do?


58 posted on 08/26/2022 2:36:37 PM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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To: kosciusko51

also are they new hires or experienced???


59 posted on 08/26/2022 2:37:42 PM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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To: Chode

Aerospace engineering.


60 posted on 08/26/2022 2:37:43 PM PDT by kosciusko51
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