JPMorganChase CEO Jamie Dimon said during a Wednesday town hall he didn’t care how many employees signed a petition to bring back hybrid work. The company in mid-January announced a 100% return-to-office mandate, which angered many employees, who argue the move “disproportionately” pushed out women, caregivers, senior employees, and employees with disabilities.
Thing is, corporate ownership also owns a lot of commercial real estate. This push is entirely about saving that investment.
It’s for control. Same reason companies support administrating health insurance. It’s massively complicated and expensive but it enables control over the workforce.
And… it’s the physical manifestation of the hierarchy supporting exec and investor ‘king’ egos over their proverbial kingdom.
Most execs are also extroverts and run their businesses through personal relationships and experiences. And of course, the company pays for their commutes, housing, meals, and all the other reasons you and others have posted about. It’s advantageous, for them.
For companies like this, that’s true, but I see this push from tons of companies who don’t have a stake in that and just rent their office. Maybe it’s about saving the value on long term leases for them?
Even if the company itself doesn’t own any, the investors or lenders will. Thus they will have considerable pressure coming from higher up to force people back to the office, or lose that source of money.