JPMorgan CEO Jamie Dimon doubled down on his plan to scrap the financial institution’s work-from-home insurance policies, launching right into a foul-mouthed tirade towards staffers indignant about returning to the workplace, in keeping with a report.
Throughout a raucous city corridor assembly on Wednesday, Dimon tore into the practically 1,300 staff who signed a petition over the financial institution axing the COVID-era hybrid working preparations that allowed staff to work from home two days every week.
“Don’t waste time on it. I don’t care how many people sign that f——g petition,” Dimon mentioned, in keeping with a leaked recording obtained by Reuters.
He additionally claimed that staff don’t focus totally once they participate in on-line Zoom conferences.
“There is no chance that I will leave it up to managers. Zero chance. The abuse that took place is extraordinary,” the boss of the nation’s largest lender instructed the surprised viewers.
He went on to counsel that anybody upset over his mandate may select to work someplace else.
Dimon’s feedback come amid a nationwide crackdown on distant work by a number of main corporations, together with crosstown rival Goldman Sachs.
President Donald Trump additionally not too long ago signed an govt order forcing US authorities pen-pushers again to the workplace.
However that has not stopped stressed-out JPMorgan staffers bashing Dimon’s Jan. 10 announcement that they need to flip up at their desks 5 days every week.
The petition says the brand new mandate disrupts “work-life balance, increases commuting costs, and dismisses the lessons learned during the pandemic.”
Additionally they pointed to JPMorgan’s document 2024 earnings of $58.5 billion as a motive to not change the corporate’s working preparations.
Some staff even sought recommendation from the hard-left Communications Employees Union about forming a guild, CWR marketing campaign chief Nick Weiner instructed Reuters.
Dimon, 68, additionally has another excuse to demand his employees clock again in. The financial institution is constructing a $3 billion, 60-story headquarters at 270 Park Avenue that may embrace a yoga studio, a meals courtroom, and even an Irish pub.
The long-serving CEO, who has now been in JPMorgan’s prime job for 19 years, additionally warned throughout the city corridor that the corporate must turn into extra environment friendly and slash paperwork.
Dimon, who raked in an eye-popping $39 million wage final 12 months, recounted a narrative a couple of wealth administration matter that required 14 committee approvals.
“I feel like firing 14 chairmen of committees, I can’t stand it anymore,” he mentioned. “I’m sorry. It’s my fault. I’m the boss.”
He additionally cited efficiency critiques for the financial institution’s working committee that might stretch to 6 pages.
“Because of legal and risk, they have to look at it, the regulators might say,” Dimon mentioned. “I get the thing, I throw it in the goddamned garbage can.”
The Wall Road titan has a fame for robust, no-nonsense talks. Final 12 months, he ranted towards the Biden administration’s overzealous and “stupid” method to banking regulation.
“I’ve had it with this s–t,” Dimon instructed a convention of New York finance bigwigs on Oct. 28.
JPMorgan employs greater than 300,000 worldwide, though the corporate is reportedly getting ready to put off round 1,000 employees this month.
When requested in regards to the layoffs, an organization spokesperson mentioned: “We continue to invest in hiring new professionals where appropriate and currently have 14,000 open positions.”
With Submit wires
