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JPMorgan Chase to Likely Keep Shrinking NYC Workforce, CEO Dimon Says
He said New York City’s 30,000-person workforce fell to 24,000 over a decade while Texas headcount rose to 32,000.
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10 Articles
Jamie Dimon says New York, other cities face worker 'exodus' as lawmakers push higher taxes
JPMorgan Chase CEO Jamie Dimon warned that New York City and other cities with high taxes and regulatory burdens run the risk of losing businesses and workers to locales with more hospitable business climates.Dimon released his annual letter to shareholders on Monday in conjunction with the firm's 2025 annual report and said that companies need to weigh the benefits of operating in places like New York City against areas with lower taxes on busi…
Jamie Dimon warns high taxes could push people out of New York — but Wall Street isn't leaving yet
Jamie Dimon said high taxes could drive employees out of New York City.John Lamparski/Getty ImagesJamie Dimon said JPMorgan's Texas workforce is booming, as its NYC workforce shrinks.He said high corporate and individual income taxes could push people and businesses out of the city.His warnings haven't come true yet — in the first quarter, demand for NYC office space was up.Jamie Dimon warned that companies could leave high-tax cities like New Y…
"While New York City has a lot to offer, especially for financial companies (thanks to the extraordinary local talent), it also has the highest municipal and state corporate taxes, as well as the highest individual and state income taxes," said Jamie Dimon.
Jamie Dimon Has Bad News For NY — And Red State May Reap The Rewards
Tax an individual enough and they will vote with their feet, warned JPMorgan Chase CEO Jamie Dimon in his annual shareholder letter on Monday. Dimon’s already making the move for JPMorgan Chase by employing more people in his Dallas office than in the company’s New York City headquarters. The banker added that the trend will only continue. Over the past decade, JPMorgan has reduced its New York City headcount from 30,000 to 24,000, while expand…
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