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JPMorgan reportedly ending remote work for more than 300k employees

forbes.com

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Re: JPMorgan reportedly ending remote work for more than 300k employees

#41

Post by svnt »

lefstathiou wrote: post #31
michaelhoney wrote: post #3

"JPMorgan’s leader believes that when employees are inside the office working together (instead of remotely or for a few in-person days here and there) the company and its employees experience greater levels of innovation, creativity and teamwork." tell me about the innovations you've pioneered, Jamie

I believe JPM earns a ~40-50% higher return on equity than almost every other retail bank, which is extraordinary given the scale of their lending. Among banking CEOs, Jamie is regarded as one of the greatest of all time. If anyone else could achieve these results, they would. The Swiss certainly can’t. The systems, processes, culture and technology necessary to achieve that is breathtaking at their scale. They spend…

Took a hard left at Tasmania there. Is their GDP a common measure in the banking world?

Re: JPMorgan reportedly ending remote work for more than 300k employees

#42

Post by linotype »

Thaxll wrote: post #35
michaelhoney wrote: post #3

"JPMorgan’s leader believes that when employees are inside the office working together (instead of remotely or for a few in-person days here and there) the company and its employees experience greater levels of innovation, creativity and teamwork." tell me about the innovations you've pioneered, Jamie

I've been working in IT for the last 15 years and there is nothing that will replace sitting next to your colleague to discuss something, doing a call on teams/zoom is absolutly not the same. Remote work is fine for 2-3 days a week, full remote is absolutly worse than 2 days of social interaction.

Remote 2 or 3 days a week only works when everyone does it. I’m currently in a situation where half the people are fully remote and the other half come in 2-3 days a week, and the latter are clearly second class citizens.

Re: JPMorgan reportedly ending remote work for more than 300k employees

#44

Post by honestSysAdmin »

michaelhoney wrote: post #3

"JPMorgan’s leader believes that when employees are inside the office working together (instead of remotely or for a few in-person days here and there) the company and its employees experience greater levels of innovation, creativity and teamwork." tell me about the innovations you've pioneered, Jamie

and coming from a company that doesn't support FIDO2 auth to protect peoples' money, yet insists on SMS 2FA.

Re: JPMorgan reportedly ending remote work for more than 300k employees

#45

Post by senderista »

itake wrote: post #24
bdndndndbve wrote: post #18

People have theorized that RTO mandates are shadow layoffs, but I think they might actually be commercial real estate investors trying to prop up the office market. If large companies are able to force RTO those working conditions will trickle down to smaller employers, which will stop the bleeding of tenants for small and midsized buildings. Those commercial office buildings are owned by REITs and investment banks.…

Why do the landlords have control over tech ceos?

Institutional investors in Big Tech also have investments in commercial real estate?

Re: JPMorgan reportedly ending remote work for more than 300k employees

#46

Post by RachelF »

greatgib wrote: post #4
michaelhoney wrote: post #3

"JPMorgan’s leader believes that when employees are inside the office working together (instead of remotely or for a few in-person days here and there) the company and its employees experience greater levels of innovation, creativity and teamwork." tell me about the innovations you've pioneered, Jamie

Screwing people :p But that being said, just think like their boss, when doing remote work you have to record every interaction like email and chats of employees. But when they are in the offi e, you can conspire your fraud in an office room without any record. So remote work easily impact their revenue by limiting their capacity of unethical business practices... https://www.reuters.com/business/france-fines-us-bank…

Yep, this is a big factor for banks. No audit trail in face-to-face chats.

Re: JPMorgan reportedly ending remote work for more than 300k employees

#47

Post by dcrazy »

lefstathiou wrote: post #31
michaelhoney wrote: post #3

"JPMorgan’s leader believes that when employees are inside the office working together (instead of remotely or for a few in-person days here and there) the company and its employees experience greater levels of innovation, creativity and teamwork." tell me about the innovations you've pioneered, Jamie

I believe JPM earns a ~40-50% higher return on equity than almost every other retail bank, which is extraordinary given the scale of their lending. Among banking CEOs, Jamie is regarded as one of the greatest of all time. If anyone else could achieve these results, they would. The Swiss certainly can’t. The systems, processes, culture and technology necessary to achieve that is breathtaking at their scale. They spend…

> the GDP of the nation of Tasmania

When did the state of Tasmania secede from Australia?

Re: JPMorgan reportedly ending remote work for more than 300k employees

#48

Post by ksec »

tootie wrote: post #34
t-writescode wrote: post #29

Earlier quoted context omitted.

Our entire banking system is built on trusting that companies and individuals will keep paying their loans. If enough people don’t want commercial real estate, then those empty buildings will, at least for businesses, eventually start to default because they have no money. At least that’s my “off the top of my head” theory. It doesn’t change the fact that the US’s car-centric, NIMBY, segregated behavior has resulted…

Commercial real estate bottomed already. The market isn't going to collapse. Besides they obviously didn't make any similar hedges when it was residential real estate in 2007. Nor does it make sense for them to spend hundreds of millions on real estate so they can not lose money. There is no 4d chess. It's just old people making bad decisions.

>Commercial real estate bottomed already

I think you are under estimating the problem with Commercial real estate, along with rental around the city that has on adjacent Commercial real estate pricing. Which also has a knock on effect on other financial instruments.

The situation wont change or pops the Commercial real estate value to where it was. But it should hopefully buy some time for the market to solve itself. And this isn't just JPM literally eery bank and finance sector are forcing other sector ( other than tech ) to end Remote work.

Re: JPMorgan reportedly ending remote work for more than 300k employees

#49

Post by [deleted] »

svnt wrote: post #41
lefstathiou wrote: post #31

Earlier quoted context omitted.

I believe JPM earns a ~40-50% higher return on equity than almost every other retail bank, which is extraordinary given the scale of their lending. Among banking CEOs, Jamie is regarded as one of the greatest of all time. If anyone else could achieve these results, they would. The Swiss certainly can’t. The systems, processes, culture and technology necessary to achieve that is breathtaking at their scale. They spend…

Took a hard left at Tasmania there. Is their GDP a common measure in the banking world?

[deleted]
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