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Jamie Dimon, the CEO of JPMorgan Chase, has firmly turned down requests from employees advocating for a reevaluation of the company's five-day return-to-office policy. During a town hall meeting, Dimon disregarded an internal petition asking for more flexible work options. He expressed his disdain, stating, "Don't waste time on it. I don't care how many people sign that fing petition," according to a recording verified by Reuters. On January 10, the largest bank in the US notified its 317,000 employees that hybrid work would be phased out, mandating all staff to be in the office five days a week starting in February. A significant number of employees, particularly those in back-office roles, have raised concerns, arguing that the shift would adversely affect work-life balance and would have a disproportionate impact on caregivers, older workers, women, and persons with disabilities, as reported by Fortune.
Over 1,200 employees lent their signatures to a petition against the return-to-office mandate, expressing worries about morale, retention, and productivity. Nevertheless, Dimon asserted that employees had the option to either work at JPMorgan or seek opportunities elsewhere. "It’s a free country," he stated during the gathering. The CEO has consistently criticized remote work, asserting that it undermines productivity. As noted by Barron’s, Dimon elaborated, "I’ve been working seven days a goddamn week since COVID, and I come in, and - where is everybody else?" He also targeted remote work on Fridays, noting his frequent difficulty in contacting staff on that day. "Don’t give me that work-from-home Friday works," he said, as quoted by Fortune. "I call a lot of people on Fridays, and there’s not a goddamn person you can get a hold of."
In a related incident, a JPMorgan Chase analyst was temporarily dismissed after challenging Dimon’s rigid return-to-office policy. Nicholas Welch, who is navigating a divorce and needs flexible working arrangements, proposed that lower-level managers should be responsible for deciding on office attendance. His comments received applause but were quickly dismissed by Dimon, who completely rejected the notion, according to The NY Post. Shortly after the town hall, Welch was instructed by his supervisor to pack up and leave. However, hours later, a senior executive overturned that decision, confirming that Welch remained an employee.
In addition to the disputes surrounding the return-to-office policy, JPMorgan Chase has begun informing employees about forthcoming job reductions as part of its downsizing initiatives for 2025. These layoffs will affect fewer than 1,000 employees in February, with further reductions planned for mid-March, May, June, August, and September. The bank stated that these layoffs represent only a small fraction (0.3 percent) of its overall workforce. Despite these reductions, JPMorgan intends to continue hiring in specific areas and will look to redeploy affected staff.
