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JPMorgan Chase employees are urging CEO Jamie Dimon to reconsider the bank’s decision to end its hybrid work model and require all staff to return to the office five days a week starting next month.
A group calling themselves “JPMC Workers” has launched a petition advocating for flexible work arrangements and improved conditions for the company’s 300,000 employees.
The petition argues that the hybrid model, adopted during the COVID-19 pandemic, led to lower costs, higher morale, and increased employee retention. It also highlights that JPMorgan Chase achieved record profits using this approach, including $58.5billion in net income for fiscal year 2024 - an 18% increase from 2023.
Currently, about 40% of the bank’s employees work on a hybrid schedule, spending three days in the office. Starting in early March, however, most will be required to work on-site full-time. Some locations, such as the Polaris regional headquarters in Ohio, which employs over 12,000 people, are receiving more time to comply.
The petition requests that JPMorgan Chase maintain the hybrid model for relevant roles and expand its availability to more employees. It also asks for remote staff to have the option of working from any corporate office within their region.
Concerns over employee wellbeing
JPMC Workers argue that the mandatory return to the office is a “great leap backward,” impacting employees, shareholders, and the company’s reputation. They contend that the decision may worsen traffic and pollution and disproportionately affect women, caregivers, senior employees, and individuals with disabilities.
The petition also criticizes the disparity in workplace conditions. While JPMorgan Chase is set to open a $3billion global headquarters in Manhattan featuring state-of-the-art amenities, most employees work in crowded, noisy offices with first-come, first-served seating.
That arrangement, the petition claims, hinders productivity as workers cannot personalize their workstations.
“The whole ordeal has left us rank-and-file employees feeling betrayed and devalued,” the petition states.
Some employees are hesitant to sign the petition, fearing potential retaliation. Such a concern may explain why the petition had only 225 signatures as of Tuesday. Fortune confirmed that JPMorgan Chase is not involved in the petition’s creation.
Unionization efforts
The push for flexible work arrangements coincides with growing unionization efforts at JPMorgan Chase. A group of employees across various departments is in contact with the Communications Workers of America (CWA) to explore unionization.
Nick Weiner, a CWA organizer, reported that the number of JPMorgan Chase employees engaging with the union has doubled, and several hundred have joined Signal chat groups to discuss organizing strategies. The CWA recently helped Wells Fargo employees unionize, marking a significant shift in the banking industry’s labor landscape.
“It’s going to be a long, long grind,” said one JPMorgan Chase employee supporting the unionization drive.
