JPMorgan faces internal revolt after asking employees return to office: Report

JPMorgan CEO Jamie Dimon has been vocal about advocating employees' return to office.

JPMorgan’s recent attempt to impose a strict return-to-office mandate has resulted in disgruntled employees considering to form a labour union and push against the banking giant's decision. According to a report in Barron’s, a number of employees have begun holding discreet discussions aimed at copying what their peers at smaller rival Wells Fargo pulled off more than a year ago.

Wells Fargo suffered a blow when the staff of a branch joined the Communications Workers of America guild in a historic vote. The unionisation was aimed at the workers getting better wages and facilities and has since spread to nearly two dozen branches across the country, Fortune reported.

JPMorgan's statement last week and CEO Jamie Dimon's comments to completely end hybrid work appear to have pushed its employees down the Wells Fargo path.

“We think it is the best way to run the company,” JPMorgan had stated, adding that half of its staff already work five days a week from the office. The largest bank in the US employs close to three lakh people globally and said it understood that “not everyone will agree” with management’s decision.

Currently, it has a three-day work-from-office mandate for much of its workforce.

A JPMorgan spokesman declined to comment on the development but said that about 70 percent of its employees were already back in the office five days a week, while everyone else worked from the office three or four days a week, Fortune reported.

Meanwhile, CEO Dimon has been vocal about advocating employees' return to office. The bank was also one of the first major employers to initiate a return to office policy, stating the limitations of remote work. According to a report in Fortune, Dimon stated that remote setups hinder "spontaneous idea generation" and aren't conducive to managing teams effectively.