At JPMorgan, Productivity Falls for Staff Working at Home
- ‘Creative combustion’ has taken a hit, KBW analysts say
- JPMorgan CEO Dimon discussed bank’s findings with KBW
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A troubling pattern emerged as most of JPMorgan Chase & Co.’s employees worked from home to stem the spread of Covid-19: productivity slipped.
Work output was particularly affected on Mondays and Fridays, according to findings discussed by Chief Executive Officer Jamie Dimon in a private meeting with Keefe, Bruyette & Woods analysts. That, along with worries that remote work is no substitute for organic interaction, is part of why the biggest U.S. bank is urging more workers to return to offices over the coming weeks.