Tensions at JPMorgan Chase are running high in the wake of the company's recently announced five-day office-return policy, which saw its CEO swearing following a pushback on the mandate.
The financial services firm announced in January that it will require all employees on hybrid work schedules to return to the office five days a week starting in March, The Guardian reported.
"We are now a few years out of the pandemic and have had the time to evaluate the benefits and challenges of remote and hybrid working," read an internal memo to staff, which was quoted by the news outlet. "We feel that now is the right time to solidify our full-time in-office approach."
But the announcement was met with pushback from employees, who started a petition against the company's mandatory office return. The petition, which has reached over 1,800 signatures, slammed the company's 100% in-office work mandate as a "great leap backward."
"It hurts employees, customers, shareholders, and the firm’s reputation," the petition read. "From a corporate-citizenship perspective, it worsens traffic and pollution while disproportionately pushing out women, caregivers, senior employees, and individuals with disabilities."
It urged JPMorgan to retain or return to a flexible hybrid work model for roles that are already under it, invest in resources to expand hybrid eligibility to more roles, as well as allow remote-capable workers to work from any JPMC corporate office in their region.
"Remote work may not suit in-person services, but it's the way of the future for all knowledge work. Indeed, it's often the only way to get anything done, even from the office!" the petition read.
James Dimon, CEO of JPMorgan Chase, rejected the calls in a controversial recording of a town hall leaked to the media, which saw the leader cursing at the petition.
"Don't waste time on it. I don't care how many people sign that fucking petition," Dimon said as quoted by Reuters in the recording.
The CEO made headlines for his controversial remarks about the petition, which he later expressed regret over.
"I should never curse, ever," Dimon told CNBC. "I shouldn't get angry and stuff like that."
He added that employees who have signed the petition "have the right to feel that way."
"But we're not going to change. We're going back to the office. And I'm sure when we do, there will be some seats not available," Dimon said.
According to the CEO, he respects people who don't want to come to the office five days a week, stressing that it's their right.
"But they should respect that the company is going to decide what's good for the clients, the company, etc., not an individual," he said. "And so they can get a job — and I'm not being mean — they can get a job elsewhere. I understand that. It may make total sense for them to do that."
Tensions continue to run high in the company just days before the full-office return implementation, according to the reports. The latest in the string of events that continue to mark the tensions is a memo from one of the financial firm's executives, Rohan Amin, CNBC reported.
"We need more hustle and scrappiness," Amin said as quoted by the news outlet.
According to the report, Amin cited a call for feedback on AI that prompted fewer than five responses and gave another example in which internal bureaucracy hindered better results.
"There's a lot happening — return to office adjustments, open questions, real estate challenges," the executive said. "I also know that uncertainty can be frustrating… That said, I have to ask: where's the hustle?"
The tensions at JPMorgan Chase reflect the ongoing challenges faced by employers when it comes to office-return mandates. Amazon, which announced last year its onsite return policy, also received strong dissatisfaction from staff over the new rule.
Nearly three in four HR leaders in Gartner research last year also revealed that return-to-office mandates are a source of conflict in their organisation.
For employers developing their office-return mandates, Gartner offered the following advice:
