JPMorgan Chase CEO Jamie Dimon reinforced his stance against remote work during a town hall meeting on Wednesday, reportedly dismissing employee pushback with strong language. Dimon responded to a petition signed by nearly 1,300 workers, objecting to the bank’s decision to eliminate hybrid work policies that had allowed employees to work from home two days per week.
According to a leaked recording obtained by Barron’s, Dimon told staff, “Don’t waste time on it. I don’t care how many people sign that [expletive] petition.” He further stated that employees do not fully concentrate during Zoom meetings and made it clear that managers will not have the authority to override the in-office requirement.
“There is no chance that I will leave it up to managers. Zero chance. The abuse that took place is extraordinary,” Dimon said, adding that employees dissatisfied with the mandate are free to seek employment elsewhere.
The comments come amid a broader push by major financial institutions to bring employees back to the office. Goldman Sachs has also been enforcing stricter in-person work policies, while President Donald Trump recently signed an executive order requiring federal employees to return to their offices.
JPMorgan workers opposing the policy change cited concerns over work-life balance, commuting expenses, and productivity improvements gained during the pandemic. The petitioners also noted that JPMorgan reported record profits of $58.5 billion in 2024, arguing that there was no financial necessity to alter workplace flexibility.
In response to the mandate, some employees reportedly sought guidance from the Communications Workers of America (CWA) union on potentially forming a worker guild, according to CWA campaign leader Nick Weiner.
Another factor influencing the return-to-office push is JPMorgan’s new headquarters, a $3 billion, 60-story tower at 270 Park Avenue. The building, currently under construction, is set to feature amenities such as a yoga studio, a food court, and an Irish pub.
Dimon, who has led JPMorgan for 19 years, also addressed concerns about inefficiencies within the company, specifically citing excessive bureaucracy. He described an incident where a wealth management decision required approval from 14 committees.
“I feel like firing 14 chairmen of committees, I can’t stand it anymore,” he said. “I’m sorry. It’s my fault. I’m the boss.”
Dimon further criticized the complexity of performance reviews for the bank’s operating committee, stating that they sometimes extend to six pages due to legal and regulatory requirements. “I get the thing, I throw it in the [expletive] garbage can,” he said.
The CEO has built a reputation for direct and often blunt remarks. Last October, he criticized the Biden administration’s financial regulatory policies, calling them “stupid” and expressing frustration with increased oversight. “I’ve had it with this [expletive],” Dimon reportedly told attendees at a financial conference in New York.
Jamie Dimon on employees protesting the JP Morgan five-day return-to-office policy:
“Don’t waste my time on it. I don’t care how many people sign that fucking petition.” pic.twitter.com/6ozhutTo7u
— Geiger Capital (@Geiger_Capital) February 13, 2025
JPMorgan Chase employs over 300,000 people worldwide but is reportedly planning to lay off approximately 1,000 employees this month. When asked about potential job cuts, a company spokesperson stated, “We continue to invest in hiring new professionals where appropriate and currently have 14,000 open positions.”
