JPMorgan Chase Chief Executive Officer (CEO) Jamie Dimon has flatly refused demands from employees to alter the company's five-day return-to-office (RTO) policy. During a town hall meeting, Dimon rejected an internal petition pushing for more flexible working arrangements.
“Don’t waste time on it. I don’t care how many people sign that f***ing petition," Dimon said, according to a recording reviewed by Reuters.
On January 10, the largest United States (US) bank informed its 3,17,000 workers that the hybrid work model would be discontinued, requiring a return to the office five days a week beginning in February. According to a Fortune study, many employees, particularly those in back-office roles, voiced concern that the shift would harm work-life balance and disproportionately affect carers, senior employees, women, and those with disabilities.
Over 1,200 employees signed a petition opposing the move, citing potential negative impacts on morale, retention, and efficiency. Dimon, on the other hand, stood firm, insisting that staff could either work at JPMorgan or leave. "It's a free country," he said during the meeting, News18 reports.
Dimon has long been critical of remote labour, claiming that it reduces productivity. "I've been working seven days a goddamn week since COVID, and I come in, and — where is everybody else?" he asked, according to Barron's.
The CEO also expressed concern about remote work on Fridays, stating that he frequently had problems reaching employees 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," he was further quoted.
Previously, a JPMorgan Chase analyst was briefly fired for criticising Dimon's strict return-to-office policy. Nicholas Welch, who requested additional flexibility due to personal circumstances, proposed that lower-level managers determine office attendance. His remarks drew cheers but were swiftly shot down by Dimon. According to The New York Post, Welch's boss ordered him to remove his desk and leave, but hours later, a top official reversed the decision, assuring his continued employment.
Along with the return-to-work issue, JPMorgan Chase has begun informing staff of impending job layoffs as part of its 2025 downsizing efforts. Layoffs will affect fewer than 1,000 employees in February, with additional cuts scheduled for mid-March, May, June, August, and September.
According to the bank, these layoffs account for only 0.3 per cent of its overall workforce. Despite these reductions, JPMorgan plans to continue hiring in key areas and redeploy affected employees.