JPMorgan CEO Jamie Dimon lashed out at employees who had been strongly advocating for the Wall Street giant to ease up on its five-day return-to-office policy.
"Don't waste time on it. I don't care how many people sign that f---ing petition," Dimon said when asked about the in-person work policy during a town hall meeting Wednesday, according to a recording reviewed by Reuters.
Dimon was referring to a petition that had been circulating among a group of workers opposed to the company's latest policy, which was requiring hybrid workers to come back to the office full-time.
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The company told employees in January that its new policy would take effect in March, effectively dissolving its hybrid model. It ignited frustrations among certain staffers, causing 950 people to sign a petition to do away with the policy, according to Reuters. Still, that figure pales in comparison to the bank's global workforce, which totals more than 317,000 employees.
However, more than 60% of its employees were already in the office full-time even before this announcement.
JPMorgan declined to comment.
Dimon also asserted during the town hall that there is "zero chance" managers will be allowed to determine in-office requirements, saying the "abuse that took place is extraordinary."
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Since the early days of the pandemic, Dimon has made it clear he is against remote work, given that it hindered productivity. At its town hall, Dimon even noted that some staffers had a hard time paying attention during zooms, cutting down on efficiency and creativity.
His firm was one of the first among rivals to ease office restrictions during the pandemic. Top traders were called back to the office in late 2020. However, most employees came back on a rolling basis the following year, according to reports. Managing directors went back full-time in April 2023.
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The firm has fared well in the meantime, as its profit rose to a record high in 2024 thanks to a resurgence of deal-making. In mid-January, JPMorgan reported managed revenue of nearly $43.74 billion for the fourth quarter. Its quarterly net income came in at $14 billion, marking a 50% jump year-over-year.
It had $4 trillion in assets and $345 billion in stockholders’ equity at the end of 2024, according to the company.
