JPMorgan Chase CEO Jamie Dimon doubled down on the financial giant’s newly initiated five-day return to office policy amid a raucous town hall meeting.
“Don’t waste time on it. I don’t care how many people sign that ******* petition,” he said on Wednesday, drawing a few laughs, when questioned on the in-person work policy and a pushback petition that has garnered roughly 950 signatures, as per a recording reviewed by Reuters.
Employees had been complaining on internal message boards and even began a petition urging their boss to rescind the move, which was announced on January 10 ahead of a March start date.
However, despite the deluge of complaints, the CEO was not keen to comply. At present, JPMorgan employs a roster of more than 300,000 worldwide. Reports have said that the company is preparing to lay off around 1,000 staff this month.
According to Reuters, Dimon weighed in on the fact that employees had a “choice [on] whether to work at JPMorgan” and pleaded with staff not to “be mad at him,” citing it was a free country.
Several financial giants, including Goldman Sachs and Morgan Stanley, have advocated for the return-to-office policy, arguing that it fosters better learning, company innovation, and workplace culture.
Meanwhile, President Donald Trump also signed an executive order at the start of his second term, demanding that all federal government workers return to working in person on a full-time basis.
Chase employees reportedly sought advice from the trade union, Communications Workers of America, on how they could assemble a labor union — an unheard-of move in the U.S. financial sector, CWA campaign leader Nick Weiner told Reuters.
However, after expressing that he’d received a spate of abuse and pushback from senior staff, Dimon protested that, by no means, would in-office requirements be left to the decision of managers.
“There is no chance that I will leave it up to managers. Zero chance. The abuse that took place is extraordinary.”
The CEO called out staff for not paying attention on Zoom calls and bore down on the fact that their lack of attention reduced their efficiency and creative thinking capacities.
He also revealed that he was tired of waiting for the oversight of others in the company on crucial decisions, stating: “I feel like firing 14 chairmen of committees, I can’t stand it any more. I’m sorry. It’s my fault. I’m the boss.”
When the decision was made, roughly a month ago, Dimon and his counterparts declared the reasoning, according to an internal memo also seen by Reuters at the time.
“We know that some of you prefer a hybrid schedule and respectfully understand that not everyone will agree with this decision.”
“[But] being together greatly enhances mentoring, learning, brainstorming, and getting things done,” Dimon and other leaders added.
However, the bank’s profits surged to record numbers in 2024 and its share price was found to have nearly doubled in the past five years — calling into question why such strong performance statistics render the need for a return to the office.
In the memo seen in January, employees were told they would receive at least 30 days’ notice before being expected to return in person full-time and that they should seek manager approval if they required more time to prepare for the change.
The Independent contacted JP Morgan for comment.
