It’s JPMorgan Chase’s turn. Following in the footsteps of companies like AT&T, Amazon, and Walmart, the largest bank in the U.S. is reportedly planning to end remote work.
The bank’s more than 300,000 employees may soon be required to return to the office full-time, five days a week.
In April 2023, JPMorgan mandated that its managing directors return to the office five days a week. Now, according to Bloomberg, the bank plans to extend this requirement to all employees.
This shift will eliminate the hybrid-work option that has been available to thousands of staff members since the pandemic and reinstate the pre-pandemic attendance policy. The formal announcement is expected within weeks.
Why JPMorgan Is Likely Ending Remote Work
When a company’s CEO is as outspoken an advocate for in-person work as Jamie Dimon, a return-to-office (RTO) mandate seems inevitable.
Dimon has repeatedly expressed his disapproval of remote work, including skepticism about government employees working from home and frustration with empty office buildings in Washington, D.C. His views strongly influence workplace policies at JPMorgan.
Currently, around 60% of JPMorgan’s workforce already works in the office five days a week. The planned policy would bring the remaining 40% into alignment.
Dimon believes that in-person collaboration fosters greater innovation, creativity, and teamwork.
He views face-to-face communication as essential for employee engagement, learning, and professional growth. These beliefs, coupled with his leadership style, are driving the bank’s decision to phase out remote work.
The pandemic was the catalyst for widespread remote and hybrid work policies, which first became prevalent in early 2020.
Now, five years later, the U.S. has largely controlled the spread of COVID-19 through vaccines and social distancing measures.
This raises the question: why has JPMorgan continued allowing remote work for so long, given Dimon’s clear opposition?
Two Examples of Dimon’s Views on Remote Work
Jamie Dimon has consistently voiced his opinions on remote work in interviews and public forums. Here are two notable examples:
- At the 2024 Atlantic Festival, Dimon commented, “I’d also, by the way, make Washington, D.C. go back to work. I, I can’t believe when I come down here the empty buildings.
- I mean, the people who work for you are not going into the office anymore. I don’t allow that at JP.” Now, five years after the pandemic began, Dimon’s stance is reflected in JPMorgan’s workplace policies.
- In a 2023 interview with Spectrum News, Dimon remarked that while remote work might suit some roles, “in general there is nothing like face to face, and I think for younger people, for collaboration, for information sharing, for innovation, face-to-face is how it works.”
Options for Employees at Odds with the RTO Mandate
If you’re a JPMorgan employee or work for another company rolling back remote-work policies, you may be wondering about your options.
While remote work opportunities have contracted, they’re still available, and some companies actively embrace flexible work arrangements.
There are high-paying remote jobs offering salaries between $200,000 and the high $300,000 range, often accompanied by comprehensive benefits, bonuses, and other perks.
Numerous top employers continue to provide these opportunities for those who prioritize remote work.