For the past few weeks, JPMorgan Chase (JPM) , the largest bank in the U.S. with over 300,000 employees, has been in a bitter tug-of-war with some of its workers over remote work.
Last month, JPMorgan CEO Jamie Dimon announced that starting in March, employees will be required to work in the office five days a week after being allowed to do so only three or four days a week.
đź’°đź’¸ Don’t miss the move: Subscribe to TheStreet’s free daily newsletterđź’°đź’¸
In a memo announcing the decision, JPMorgan CEO Jamie Dimon said that eliminating remote work “greatly enhances mentoring, learning, brainstorming, and getting things done.”
Related: Jamie Dimon loses his cool over return-to-office complaints
In response to the memo, a group of employees launched a petition on coworker.org demanding that the company retain its hybrid work model.
The employees claimed that the new in-office mandate is a “great leap backward” and said that they are “concerned” about the future of their workplace as “increasing toxicity” has infected the company’s culture. The petition has garnered over 1,800 signatures so far.
During a recent company town hall meeting, Dimon sounded off on the petition and recent complaints about the new in-office mandate, heightening tensions at the company.
“Don’t waste time on it,” said Dimon. “I don’t care how many people sign that f*cking petition.”
JPMorgan workers receive another hard-nosed message
Amid recent internal turmoil, JPMorgan employees have just received another tough message from a top executive at the company.
A person seen walking by the marquee at the main entrance to JPMorgan Chase headquarters building in Manhattan.
Erik McGregor/Getty Images
In a new memo sent to over 25,000 employees, Rohan Amin, chief product officer of the Chase consumer business, said that he wants to see “more hustle” at the company, according to a new report from Reuters.
“We need more hustle and scrappiness,” said Amin in the memo.
He also asked employees to send him feedback on artificial intelligence and said that internal bureaucracy impeded better results.
Related: JPMorgan Chase workers fight back against a harsh policy change
“There’s a lot happening–return to office adjustments, open questions, real estate challenges,” said Amin. “I also know that uncertainty can be frustrating… That said, I have to ask: where’s the hustle?”
According to Reuters, some employees allegedly expressed disdain for Amin’s recent criticism of their productivity at the company. A few employees also responded to the memo by sending him productive feedback.
Remote work is still preferred by many employees across the country
Amin’s recent comments come after Dimon clarified in an interview with CNBC on Feb. 24 that only 10% of JPMorgan’s jobs are done remotely.Â
Dimon also said that he respects employees who don’t want to work in the office five days a week but emphasized that the company will do what’s best for its business and clients.Â
More Labor:
Meta’s recent layoffs take an unexpected turnGoldman Sachs defends a work policy shareholders fearDell CEO sends a stern wake-up call to employees
“I am not against working from home. I am against where it doesn’t work,” said Dimon.Â
JPMorgan’s recent cut to remote work comes during a time when working from home is still very popular in corporate America, even after the Covid pandemic.
According to a recent survey from Pew Research Center, 75% of employed adult Americans said that they are working remotely at least some of the time.
Also, 46% said that if their company no longer allowed them to work from home, it would be unlikely that they would remain at their current job.Â
Related: Veteran fund manager unveils eye-popping S&P 500 forecast
