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Last Updated : Oct 10, 2020 02:04 PM IST | Source: Moneycontrol.com

Coronavirus impact | Jamie Dimon does not expect return to normality until mid-2021

"Work-from-home has to work for clients and customers not just for employees," JPMorgan CEO Jamie Dimon said.


JPMorgan Chase Chief Executive Officer Jamie Dimon said he doesn't expect normalcy to return until mid-2021, with most people working from home during the COVID-19 pandemic.

Though the New York-headquartered investment bank has called its staff back to offices, it still targets filling only 15-25 percent capacity, Dimon said.

"I don't expect normality until summer 2021," Dimon said, as quoted Bloomberg. "We're going to have to live with this," he said at a conference hosted by asset-management industry group Nicsa.


The US is the worst-affected country during the COVID-19 pandemic, recording more than 78 lakh (7.8 million) cases and 2.1 lakh (210,000) deaths.


Local restrictions, absence of a vaccine, and employees' personal circumstances will make it impossible to fully staff JPMorgan's offices until the middle of 2021, Dimon added. 


"We're starting to see some people get back on the road," he said. "I think it can be done quite safely. Some are afraid. We'll see."


As many as 40 percent of the staff might work from home even after the pandemic, he said. Some might work in and out of office on a rotational basis.


"Work-from-home has to work for clients and customers not just for employees," he said.

First Published on Oct 10, 2020 02:04 pm
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