JP Morgan CEO Jamie Dimon has attacked the bank’s “pointless” bureaucracy, calling out unnecessary committees and redundant reports that he claims are wasting staff time.
In a memo sent to staff last month, Dimon announced that the bank would be overhauling its hybrid working policy, previously adopted in response to Covid. The new policy aims to reduce paperwork and meetings, with Dimon stating that “life will be OK”.
Dimon’s outburst comes as he clashes with US President Donald Trump, who has been critical of corporate DEI policies and workplace practices. Several major companies, including Disney and Deloitte, are re-examining their policies in response to the backlash.
The JPMorgan CEO cited a complaint that decisions required approval from 14 different committees, leading him to call for a reduction by 10%. He expressed frustration with lengthy performance reviews, which he believes provide little useful information. Dimon’s comments have been met with silence from the bank, with no comment forthcoming from a spokesman on Friday.
Source: https://www.telegraph.co.uk/business/2025/02/14/lazy-gen-z-get-back-office-or-get-new-job-jp-morgan-boss