JPMorgan Chase JPM CEO Jamie Dimon has called for federal employees in Washington, DC, to return to their offices, highlighting the ongoing debate over remote work policies.
What Happened: Speaking at The Atlantic Festival, Dimon expressed his frustration with the number of empty buildings in the capital, according to Business Insider on Friday.
“By the way, I’d also make Washington, DC, go back to work. I can’t believe, when I come down here, the empty buildings. The people who work for you not going to the office,” he stated,
“That bothers me,” he added. Dimon emphasized that he does not allow such flexibility at JPMorgan.
Why It Matters: Dimon is not alone in his stance. Earlier this week, Amazon AMZN CEO Andy Jassy announced that Amazon employees would return to the office five days a week, reverting to pre-pandemic norms.
JPMorgan’s policy mandates managing directors to be in the office full-time, while other employees must work in person at least three days a week. Last year, the Biden Administration also pushed federal employees to return to in-person work.
Despite these efforts, many federal workers still have flexible work arrangements. For instance, some Environmental Protection Agency employees are required to be in the office only four days a month. Other agencies, like the Department of the Treasury and the Department of the Interior, require at least 50% in-office presence.
Office vacancy rates in DC remain high, with about 22% of office space empty in the second quarter of 2024, according to CBRE. The federal government and private-sector offices contribute to this trend.
This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image via Flickr/ Frank Gruber
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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