Jamie Dimon says JPMorgan managers risk their bonuses if they don't comply with the new 80-hour workweek cap for junior bankers.
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00:00And then I do think this thing on Wall Street where you read about the hours.
00:04So we just put a new program in place.
00:06First of all, we don't want kids to tell the truth.
00:08Some kids are saying they work more hours than they do.
00:10Some kids are saying they work less hours than they do, so they get more work.
00:13We just want to treat the kids with respect.
00:15So we're trying to put rules in place, and you don't need AI to do this.
00:18Assignments should be given out by Wednesday, not on Friday night.
00:22So a lot of investment bankers, they've been traveling a week, they come home,
00:25they give you four assignments, and you gotta work all weekend.
00:27It's just not right.
00:28And so that, you gotta teach individual by individual.
00:30I can't blanket the brush.
00:32And things like that, we want weekends off, we want people to have time,
00:35we want to pay attention.
00:36Obviously, if you ever see someone in emotional need, you should help them.
00:39So we're gonna try to limit, track.
00:41We actually hired someone who's gonna do nothing but help manage the analysts and
00:45stuff so they can actually track it.
00:47And then they have to go back to banker by banker.
00:49You're violating it, you gotta stop.
00:51And it will be in your bonus, so that people know we actually really mean it.