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JPMorgan Hit By COVID-19 Outbreak Just Days After Ordering Traders To Return

JPMorgan Hit By COVID-19 Outbreak Just Days After Ordering Traders To Return
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JPMorgan Hit By COVID-19 Outbreak Just Days After Ordering Traders To Return

Tyler Durden

Tue, 09/15/2020 – 13:54

Barely a day after JP Morgan came out strongly in favor of workers returning to the office, after announcing that the bank had recalled traders back to the trading floor, it appears several have already been stricken by a COVID-19 outbreak.

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Bloomberg sent some of its Manhattan workers home this week after an employee in equities trading tested positive for the virus, according to an insider source with person with first-person knowledge.

The infection was actually confirmed a couple of days ago, but word is just getting out now.

News of the infection, on the fifth floor of the company’s 383 Madison Ave. building, was communicated to employees on Sept. 13, said the person, who asked not to be identified discussing information that isn’t public.

That was less than a week after more workers began returning to offices after the Labor Day holiday, and just days after the biggest U.S. bank told senior tradersthey’d be required to return by Sept. 21. The case shows the challenges banks face as they try to bring more staff back to the office after months of remote work.

JPMorgan has been among the boldest banks in calling workers back, and Chief Executive Officer Jamie Dimonspoke earlier Tuesday about his concerns that extended work-from-home could have its own consequences.

One Bloomberg reporter pointed out, this will leave CEO Jamie Dimon with some egg on his face after he personally signed off on the bank’s opposition to work from home.

In an unusual move, JPM shared internal research with a rival firm earlier this week showing that employees lose “creative energy” when working from home.

President Trump is probably not super thrilled with Jamie Dimon right now.

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About The Author

Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

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