JPMorgan Chase CEO Jamie Dimon reaffirmed the bank’s strict return-to-office policy during a recent town hall meeting, dismissing employee efforts to retain hybrid work arrangements.
The largest US bank has mandated that employees return to the office five days a week, a decision that has sparked pushback from some staff members.
In response to the mandate, a group of JPMorgan employees launched an online petition urging leadership to reconsider, citing concerns about workplace culture, efficiency, and work-life balance. By Wednesday evening, approximately 950 employees had signed the petition. However, Dimon made it clear that the policy would not change, stating:
“Don’t waste time on it. I don’t care how many people sign that petition.”
JPMorgan workers have voiced their frustrations through internal message boards and discussions, with some even seeking guidance on potential unionization from the Communications Workers of America. Critics of the policy argue that eliminating remote work could disproportionately impact caregivers, senior employees, and those with disabilities while also creating logistical challenges in crowded office spaces.
Dimon has been vocal about his preference for in-office work, emphasizing that it enhances mentoring, collaboration, and overall efficiency. He criticized remote work for reducing engagement, noting that some employees were not fully attentive during virtual meetings.
The CEO also outlined a broader push for efficiency within the bank, directing all departments to achieve 10% gains by cutting back on unnecessary reports, meetings, and documentation. During the town hall, he shared frustrations over bureaucratic delays, citing an instance where 14 committee approvals were required for a wealth management decision.
Despite employee resistance to the office mandate, JPMorgan has reported record-breaking financial results. The bank’s profits surged in 2024, and its stock price has nearly doubled over the past five years. Dimon’s decision aligns with broader trends among major corporations, as companies like Amazon and Dell have also scaled back remote work arrangements.
JPMorgan’s return-to-office policy reflects a broader shift in corporate America, where many business leaders have advocated for in-person work. Dimon’s stance is consistent with other Wall Street executives, as well as former President Donald Trump, who recently issued an executive order requiring federal employees to return to the office full-time.
While remote work remains popular, with a Pew Research survey indicating that 75% of US employees still work remotely at least part of the time, companies like JPMorgan continue to push for full in-office attendance. Employees who oppose the policy remain vocal, but for now, the bank is standing firm on its decision.
Reuters and the Street contributed to this report.
