1 week ago
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JPMorgan CEO Jamie Dimon forcefully rejected employee complaints about the company’s mandatory five-day in-office policy during a heated town hall meeting on Wednesday, according to a recording reviewed by Reuters.
Dimon dismissed an internal petition urging a reconsideration of the policy, which had gathered nearly 950 signatures by Wednesday evening.
“Don’t waste time on it. I don’t care how many people sign that f*****g petition,” he said, prompting laughter from some attendees. JPMorgan, which employs more than 317,000 people worldwide, declined to comment on the remarks.
The push to eliminate hybrid work has sparked frustration, particularly among back-office staff, as post-pandemic remote work flexibility continues to be rolled back across the financial sector. Some employees have even sought guidance from the Communications Workers of America on the possibility of forming a union, according to CWA campaign lead Nick Wiener.
Despite employee backlash, Dimon made it clear that returning to the office is non-negotiable and that the decision will not be left to individual managers. “There is no chance that I will leave it up to managers,” he said. “Zero chance. The abuse that took place is extraordinary.”
The CEO has also set aggressive efficiency targets, instructing all departments to improve productivity by 10%. This includes cutting down on reports, meetings, documents, and training sessions. He argued that remote work had led to reduced engagement, creativity, and efficiency, citing instances where employees failed to pay attention during Zoom meetings.
JPMorgan, the largest US bank, has seen its profits surge to record highs in 2024, with its stock price nearly doubling over the past five years. Some employees have questioned why office attendance is being prioritised despite the company’s financial success.
Dimon’s stance echoes broader trends among Wall Street leaders and aligns with President Donald Trump’s directive to end remote work for federal employees. As resistance to full-time office returns continues, JPMorgan’s leadership remains firm on maintaining a traditional in-office work culture.
Faridah Abdulkadiri
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