Brief summary available in HBS's Press Release.
Loyalty vs meritocracy
When someone isn't up to their job, loyalty to organization trumps loyalty to that person. I have seen a fair amount of loyalty to individuals in businesses. While the job may be important to that person (keeping in mind that, someday, that person might be me), keeping a person not suited to the job harms both employee morale and the business! Of course, everyone should be given the opportunity to grow and make mistakes. But at some point, hard as it may be, the right thing must be done.
My impression
I haven't dealt with JP Morgan Chase nor do I personally know anyone working there, but from watching Jamie speak and reading his 2008 JPM shareholder letter, if he does what he says and the entire company operates the same way, JP Morgan Chase is a place I would want to work!
