JPMorgan Chase (JPM) CEO Jamie Dimon raised eyebrows last month when he announced that he was axing remote work from JPMorgan’s company culture.
Currently, about 30% of JPMorgan’s 300,000 employees have a hybrid schedule where they work from the office only three or four days a week, a privilege that was introduced during the Covid pandemic.
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However, starting in March, those employees will be required to work in the office full-time five days a week.
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In an internal memo announcing the decision last month, Dimon said that returning to in-person work full-time is “the best way to run the company” as it “greatly enhances mentoring, learning, brainstorming, and getting things done.”
“Developing effective teams and maintaining a vibrant, healthy culture are clearly key for our success – and we believe best achieved through working together in person,” said Dimon.
JPMorgan employees push back against new mandate
As March approaches, JPMorgan employees recently fired back against the new return-to-office mandate in a petition that was launched on coworker.org on Feb. 9.
In the petition, which has so far garnered over 1,300 signatures, JPMorgan employees said that the mandate is a “great leap backward.”
“The recent mandate for 100% in-office work is a great leap backward: It hurts employees, customers, shareholders, and the firm’s reputation,” said the workers in the petition. “From a corporate-citizenship perspective, it worsens traffic and pollution while disproportionately pushing out women, caregivers, senior employees, and individuals with disabilities. Many of these are top performers, and many of them (are) only able to join the workforce under hybrid work rules.”
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., at the UK Global Investment Summit at Hampton Court Palace in London, UK, on Monday, Nov. 27, 2023.
They also said that most JPMorgan employees are not assigned to work from the company’s new NYC headquarters, which is 60 stories high and contains 19 different restaurants.
Instead, they claim they will be required to work in “crowded” corporate offices that are allegedly “noisy, inefficient, and uncomfortable,” and lack space, parking and food-service capacity.
Jamie Dimon issues a harsh response to the petition
As the petition continues to gain momentum online, Dimon has sounded off on recent complaints about the company’s new in-office mandate during a recent town hall meeting.
According to a new report from Reuters, Dimon allegedly refused to discuss the new policy during the meeting.
Related: Dell CEO sends a stern wake-up call to employees
“Don’t waste time on it,” said Dimon. “I don’t care how many people sign that f*cking petition.”
He also emphasized that employees should not be mad at him since it is a free country, and they have a choice on whether or not they want to continue working at JPMorgan.
Dimon also said that managers will not be able to dictate in-office requirements due to previous “abuse.”
“There is no chance that I will leave it up to managers,” said Dimon. “Zero chance. The abuse that took place is extraordinary.”
Employers and employees are divided over remote work
Dimon’s stern comments come after the anti-remote work movement in corporate America gained a powerful ally.
Last month, President Donald Trump signed an executive order mandating all federal agencies to order their employees to return to work in the office full-time.
Large companies such as Amazon and Dell have also begun requiring their employees to make a full return to the office five days a week.
More Labor:
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Even though return-to-office mandates are becoming more popular in U.S. workplaces, many employees are still devoted to remote and hybrid work, citing benefits such as improved work satisfaction, boosts in productivity and financial savings.
According to a recent survey from ResumeBuilder.com, most U.S. workers want to be in the office three days a week or less. Also, 1 in 5 workers have even ignored their company’s return-to-office policy.
“For many employees, remote work has become a non-negotiable part of their professional lives. As companies attempt to reinstate in-office requirements, there has been pushback from workers. Employers should know job seekers today still have options if they are looking to work remotely,” said Resume Builder’s Chief Career Advisor Stacie Haller in the report.
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