JPMorgan Chase CEO Jamie Dimon has firmly rejected calls from workers to rethink the corporate’s five-day return-to-office (RTO) coverage. Throughout a city corridor assembly, Mr Dimon dismissed an inner petition urging for extra versatile work preparations.
“Do not waste time on it. I do not care how many individuals signal that f***ing petition,” he mentioned, in keeping with a Reuters-reviewed recording.
On January 10, the biggest US financial institution knowledgeable its 317,000 workers that hybrid work would come to an finish, requiring all employees to return to the workplace 5 days every week beginning in February. Many workers, particularly back-office employees, voiced considerations, arguing the change negatively impacted work-life stability and disproportionately affected caregivers, senior workers, girls, and people with disabilities, Fortune reported.
Greater than 1,200 workers signed the petition opposing the mandate, citing considerations over morale, retention, and effectivity. However Mr Dimon mentioned that workers had the selection to work at JPMorgan or go away. “It is a free nation,” he remarked in the course of the assembly.
The CEO has lengthy criticised distant work, claiming it hampered productiveness. In line with Barron’s, Mr Dimon justified, saying, “I have been working seven days a goddamn week since COVID, and I are available in, and – the place is everyone else?”
Mr Dimon additionally singled out distant work on Fridays, saying he typically struggled to succeed in workers on that day. “Do not give me that work-from-home Friday works,” he mentioned, as quoted in Fortune. “I name lots of people on Fridays, and there is not a goddamn individual you possibly can come up with.”
Earlier, a JPMorgan Chase analyst was briefly fired after questioning Mr Dimon’s strict return-to-office mandate. Nicholas Welch, who’s going via a divorce and wishes work flexibility, instructed that lower-level managers ought to resolve workplace attendance. His remarks acquired applause however have been instantly shut down by Mr Dimon, who dismissed the concept totally, as per The NY Post.
Shortly after the assembly, Mr Welch’s supervisor ordered him to clear his desk and go away. However hours later, a senior government reversed the choice, saying he was nonetheless employed.
Alongside the RTO controversy, JPMorgan Chase has additionally began notifying workers about upcoming job cuts as a part of its downsizing efforts for 2025. The layoffs will impression fewer than 1,000 workers in February, with further cuts deliberate for mid-March, Could, June, August, and September.
The financial institution mentioned that these layoffs have been a small fraction (0.3 per cent) of its whole workforce. Regardless of these cuts, JPMorgan plans to proceed hiring in sure areas and redeploy impacted employees.