Skip to main content

Market Overview

JPMorgan Employees Bemoan Dimon's Return-To-Office Edict, Claim It's 'Tone Deaf' And 'Divisive'

Share:
JPMorgan Employees Bemoan Dimon's Return-To-Office Edict, Claim It's 'Tone Deaf' And 'Divisive'

JPMorgan Chase & Co (NYSE: JPM) CEO Jamie Dimon is getting backlash from his employees about his return-to-office policy, according to Reuters.  

Earlier this month, the company abandoned its hybrid-attendance policy and asked all managing directors to come to the office five days a week.

"Our leaders play a critical role in reinforcing our culture and running our businesses. They have to be visible on the floor, meet with clients, teach and advise, and always be accessible for immediate feedback and impromptu meetings," the company's operating committee wrote in a memo. 

JPMorgan employees, however, said the firm's new mandate for senior officers is both"tone deaf" and "divisive," Reuters reported.

The outlet noted that some of the company's workers took to JPMorgan's internal messaging platform to voice their concerns.

Several employees reportedly complained about a "Zoom culture" in which they had to attend virtual meetings despite being in the office. They also shared challenges that have come with long commutes and caretaking responsibilities.

"Most people on my team (and even other teams around me) live pretty far from the office," one of the employees reportedly wrote in response to the memo. "Being stuck in traffic more often and paying even more for gas (rising prices) is not good for myself and many others."

Also Read: As JPMorgan Pays Literally Nothing On Deposits, Elon Musk Rues People's Poor Money Management: 'So Bizarre'

A day after the memo was posted, its comments section was locked. 

In mid-2021, JPMorgan called employees back to the office on a rotational basis after months of pandemic-related shutdowns. Following the company's most recent memo to staff, Dimon argued that there was a need for leaders to be available for spontaneous in-office discussions.

"Some people weren't following the rules," Dimon said in response to a Reuters question on an earnings media call earlier this month. "We don't want to punish everybody because of that, but people agreed to do three days a week; we expect three days a week."

According to Davia Temin, chief executive of crisis management firm Temin and Co, employers may roll back pandemic flexibility and demand more in-office work as a recession looms and workers vie to keep their jobs.

"Working from home was introduced during extraordinary times, and leaders have the right to change that, especially now as we are likely to be getting into a recession where profitability will be key," Temin told Reuters.

Now Read: Jamie Dimon's Candid Shareholder Letter: 5 Crucial Topics From The JPMorgan CEO

Photo: Steve Jurvetson via Wikimedia Commons

 

Related Articles (JPM)

View Comments and Join the Discussion!

Posted-In: in-office Jamie Dimon return to officeNews Top Stories Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com