JPMorgan Chase informed its 300,000 employees on Friday that it is implementing a strict return-to-office policy and almost all workers are required to work in the office five days a week beginning in March, according to an internal memo seen by Barron’s.
“We feel that now is the right time to solidify our full-time in-office approach,” the memo reads. “We think it is the best way to run the company.” The only exceptions to the mandate are teams with work that “can be easily and clearly measured.”
According to Bloomberg, more than half of JPMorgan staff, or about 60%, are already working in the office five days per week. These employees are managing directors, bank branch workers, and salespeople, among other senior or client-facing roles. The shift from hybrid to fully in-person work will most likely affect back-office roles, like call center workers, the outlet noted.
JPMorgan Employees React to RTO Mandate
The bank posted the news to an internal company website, and the return-to-office mandate was met with pushback by employees.
JPMorgan CEO Jamie Dimon. Photographer: Kent Nishimura/Bloomberg via Getty Images
Related: ‘Five Is Ideal’: JPMorgan Will Reportedly Follow Amazon, Walmart With Strict Return-to-Office Policy
Employees could leave comments attached to the news with their first and last names on display — and they did, with more than 300 sharing worries about the return-to-office mandate’s effects on their commute, childcare costs, and work-life balance.
According to people familiar with the matter who spoke with the WSJ, one person even brought up unionizing to keep the hybrid schedule.
This reportedly led JPMorgan to shut down comments on Saturday, though parts are still available for employees to see, per the WSJ.
Related: JPMorgan Chase CEO Jamie Dimon Isn’t Worried About AI Taking Over Jobs — Here’s Why
JPMorgan CEO Jamie Dimon told the Wall Street Journal in April that he prefers people work in the office five days per week, though in some cases, “taking a day or two at home is fine.”
JPMorgan is the largest bank in the U.S. with $3.9 trillion in assets.
In implementing a fully in-person schedule, JPMorgan follows the example of companies like Amazon and Walmart, both of which have received pushback from employees.
Some Walmart employees opted to quit instead of comply and 73% of Amazon corporate employees stated in September that they were looking for a new job, shortly after Amazon announced the return-to-office mandate.
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