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JPMorgan Chase’s decision to require most employees to return to the office five days per week is generating internal resistance, with some workers expressing concern about the potential career consequences of challenging the policy.
Employees at the largest US lender told the Financial Times they feared that opposing or speaking up about CEO Jamie Dimon’s directive could amount to “career suicide,” even as questions persist about how the policy applies to globally distributed teams.
“My team is spread out through two continents and three time zones,” said one JPMorgan employee who signed a petition calling for hybrid work to continue.
“JPMorgan is a global company — why can’t that include my home office?”
Employee petition highlights hybrid work tensions
Dimon first announced the return-to-office requirement during an all-hands town hall last year, telling employees that most would need to work from company offices full time. The policy took effect in March and primarily impacted roughly 30% of the bank’s workforce that had still been working remotely part of the week. About 70% of employees were already working in the office full time when the announcement was made.
Soon after the policy was introduced, a group calling itself “JPMC Workers” circulated an internal petition opposing the decision and urging the company to preserve hybrid work arrangements.
The petition ultimately received just over 2,000 signatures from a global workforce of more than 300,000 employees. Some employees told the Financial Times they chose not to sign, however, because they were worried that doing so could harm their careers.
One employee warned the policy could reverse the workplace progress made during hybrid work adoption.
“Hybrid is working and employees love the happy medium,” the employee told the Financial Times. “Please don’t force working women completely out of the workforce.”
A leaked recording obtained by Barron’s captured Dimon responding bluntly to the petition effort.
“Don’t waste time on it. I don’t care how many people sign that f*****g petition,” Dimon said.
Workplace strategy tied to collaboration goals
JPMorgan has said the return-to-office mandate is intended to strengthen collaboration, training, and in-person supervision across the organization.
The company recently opened a $3billion headquarters on Park Avenue in Manhattan that includes dining options, wellness and fitness facilities, and outdoor spaces such as terraces and green areas.
The bank is also investing billions to expand its London operations through a new Canary Wharf complex expected to house about 12,000 employees.
Dimon has reinforced his position following the petition effort, telling employees they should not fight the decision to eliminate hybrid work.
Other major financial institutions have implemented similar policies. Goldman Sachs has required employees to work in the office five days per week since March 2022. PNC plans to bring all employees back to the office full time beginning in May.
