A leak internal memorandum suggests that more JP Morgan employees are dissatisfied with the company culture than last year-and the return-to-office mandate is to blame.
In the annual survey of JP Morgan, in company culture, which asks employees to assign a score for things such as internal mobility, work-life balance, and health and welfare, less JP Morgan employees considered their health and welfare for the company compared to last year.
Connected: JP Morgan will fire junior bankers on a common practice called CEO Jamie Dimon ‘immoral’
In response, the company’s leadership tied the lower score to its return-to-office (RTO) mandate. JP Morgan ordered the employees to return to the office five days a week in March, inspiring some employees to signed a petition for hybrid work elsewhere and others. Nevertheless, the company and CEO Jamie Dimon did not move.
Dimon and Chief Human Resource Officer Robin Leopold wrote to the employees in a leaked memo, “Health and welfare scores are favorable, although they take a dip year-on-year.” Baronal“We know that the full -time return to the office has been an adjustment and one that not everyone agrees, but we continue to believe how we do our best work and how we promote connections and dynamics opportunities.”
In the survey, the employees reported a lower score compared to the previous year for the work-life balance and internal career opportunities. Dimon and Leopold assured employees in leaked response email It also preference JP Morgan “Career Mobility” as well as “flexibility”.
Jamie Dimon, CEO of JP Morgan Chase. Photographer: Cyril Marsilhasi/Bloomberg through Getty Image
JP Morgan asks employees to take a survey once every year, and this year, 90% of its workforceOr 284,000 employees responded. The participation rate was similar to previous years.
Other banks have asked employees to return to the full -time office before. Goldman Sachs Told us the employees In August 2023, he was to work from the office five days per week.
Connected: Citragroup is affixed with a hybrid work schedule. Why is it here that it gives the bank competitive benefits according to its CEO.
However, a bank has organized a hybrid work policy. Citigroup has decided to stick to a hybrid schedule for most of its. 229,000 persons Staff allows remote work for two days per week. according to a January reportCitragroup CEO Jane Fraser told the directors on a quarterly call that the Hybrid Working Policy of Citigroup gave it an advantage in the recruitment of talented employees.
JP Morgan estimates that AI will eventually allow it to reduce the number of employees in some departments including operations and account services by 10%. Bank, which is Greatest In America $ 3.9 trillion In assets, Grow your head About 255,000 to 2024 in 2020 317,000.
A leak internal memorandum suggests that more JP Morgan employees are dissatisfied with the company culture than last year-and the return-to-office mandate is to blame.
In the annual survey of JP Morgan, in company culture, which asks employees to assign a score for things such as internal mobility, work-life balance, and health and welfare, less JP Morgan employees considered their health and welfare for the company compared to last year.
Connected: JP Morgan will fire junior bankers on a common practice called CEO Jamie Dimon ‘immoral’
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