JPMorgan Chase & Co is forging ahead with plans to build a mammoth new headquarters in New York, Chief Executive Jamie Dimon said on Tuesday, despite the coronavirus pandemic casting serious doubt on the future of office buildings.
is forging ahead with plans to build a mammoth new headquarters in New York, Chief Executive Jamie Dimon said on Tuesday, despite the coronavirus pandemic casting serious doubt on the future of office buildings.
Slated to open in 2024, for a price tag of as much as $3 billion, the building at 270 Park Avenue is to house about 14,000 employees. But since pandemic lockdowns happened in March, far fewer workers have been going into offices, making it unclear why such a big skyscraper is necessary. JPMorgan will have a lasting shift toward working from home, Dimon said, but he doesn’t know how big the change will be. The bank has as many people assigned to other New York buildings as it plans to have in the skyscraper and can adjust if necessary, he said.JPMorgan likely will adopt new floor plans that are less dense with larger conference rooms and perhaps more private offices, said Dennis Donovan, principal at Wadley Donovan Gutshaw Consulting.
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