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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

#81

Post by sebazzz »

mingus88 wrote: post #60
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.…

Amazon is full RTO in my city and there are now lines down the block for the food trucks this week at lunchtime. I’m sure every business owner is conspiring together to get those captive office workers back in city centers where their wages can be siphoned.

There is nothing preventing anyone from bringing a lunch box with them to work?

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

#82

Post by hdjjhhvvhga »

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?

In this particular case we are talking about a large company that owns a lot of commercial real estate and invests heavily in it. From their point of view, allowing people WFH is acting against the best interests of the company - if these commercial buildings are sitting empty, their value goes down.

I see their point but as an employee I would never work for them unless completely broke and desperate - and even then only temporarily, just to have time to find a better job that allows WFH.

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

#83

Post by hdjjhhvvhga »

blackeyeblitzar wrote: post #77
seanmcdirmid wrote: post #73

Earlier quoted context omitted.

Amazon employees are universally complaining about it, while Amazon is the only FAANG that is actively hiring right now (they must have higher turnover).

Weird to hear that they’re complaining. On LinkedIn, I often see Amazon employees talking about how RTO has been great or that there’s a positive side to it. Maybe they’re just managers? Or maybe the silent majority is too afraid to speak against it publicly? I feel like Amazon looks very bizarre to an outsider, almost cultish in accepting this new reality of RTO, all just to shill almost universally Chinese made low…

> Weird to hear that they’re complaining. On LinkedIn

We might live in different universes but in mine LI is exclusively used in positive tones and for praising. Saying anything negative about any company, and especially the one you work for, is the greatest taboo. You can occasionally criticize something about an unnamed company for virtue signaling. Like really, LI is for people looking for a jobs so who would to hire a person publicly complaining about their employer?

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

#84

Post by Ekaros »

tootie wrote: post #25
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.…

That really doesn't seem plausible. Why would JPM bother propping up commercial real estate? I think the answer is much simpler. Jamie Dimon is very opinionated and conservative and wants people back in the office because thinks they're slacking off at home.

JP Morgan is one of the companies I believe could think that forcing RTO is good for larger market valuations and thus directly to them. More "wealth" there is sloshing around in the system better for them as they extract their cut. Commercial real-estate is big investment market. And thus more active it is better it can be for them.

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

#85

Post by hdjjhhvvhga »

spacemanspiff01 wrote: post #37
evujumenuk wrote: post #32

Earlier quoted context omitted.

So what you're implying is that for roles where other companies do have managed to establish functioning remote work protocols, we should interpret RTO mandates as a public display of organizational dysfunction if they were unable to emulate those within the span of, oh, five years? Also I'm pretty sure employers don't generally pay for, or care about, the commute times of employees…

Yes, especially for something creative and collaborative like engineering. Creating a culture where remote work works as well as in person is hard, and takes explicit effort and buying from management.

I agree to some degree - it's only hard at the very beginning. After that, it just becomes a part of the company culture. And you can feel it from the first days when you are onboarded or when you struggle with your first ticket.

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

#86

Post by hdjjhhvvhga »

tootie wrote: post #25
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.…

That really doesn't seem plausible. Why would JPM bother propping up commercial real estate? I think the answer is much simpler. Jamie Dimon is very opinionated and conservative and wants people back in the office because thinks they're slacking off at home.

Why not both?

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

#87

Post by franktankbank »

lefstathiou wrote: post #62
michaelhoney wrote: post #58

Earlier quoted context omitted.

My point is that JPM has been a net negative in the world. I have no doubt that they have innovated in financial markets. They have also innovated in their adherence to the law: https://en.wikipedia.org/wiki/JPMorgan_Chase#Lawsuits_and_le...

Yes indeed. Jamie publicly mentions often how onerous regulations are and how much it’s impacting their ability to operate and innovate. If I had a magic wand, I would reduce concentration of capital in the banking sector. American regulators seem to prefer regulating a fewer # of large banks over many smaller banks, which tend to be harder to control and oversee and are more prone to failure. Way off topic but I see…

> American regulators seem to prefer regulating a fewer # of large banks over many smaller banks

I'm sure the remaining banks prefer that too.

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

#88

Post by kkfx »

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.…

https://hbr.org/2024/07/u-s-commercial-real-estate-is-headed... it could be retarded ad bit, not avoided.

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

#89

Post by thunky »

sebazzz wrote: post #81
mingus88 wrote: post #60

Earlier quoted context omitted.

Amazon is full RTO in my city and there are now lines down the block for the food trucks this week at lunchtime. I’m sure every business owner is conspiring together to get those captive office workers back in city centers where their wages can be siphoned.

There is nothing preventing anyone from bringing a lunch box with them to work?

I can't believe all those dummies in line for lunch never thought of that.

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

#90

Post by dymk »

rr808 wrote: post #12

I like remote work but literally the most successful banks are all in the office. Citadel never really left. Goldman Sachs was pretty quick back to RTO. JPM is probably the next successful bank. The ones that are most remote really are second tier, I'm not sure if its because they need to try to keep people or its a symptom of the company.

Didn’t they also need bailouts? Is that really success from being in office?
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