'Don't waste time': Amid layoffs, JPMorgan CEO Jamie Dimon has a warning for staff seeking work-from-home

US's largest bank JPMorgan Chase has reportedly fired about 1000 staff even after reporting record profits. According to Barron's report on Wednesday, the bank is planning additional reductions scheduled for mid-March, May, June, August and September.

The bank's workforce stood at 317,233 employees at the end of 2024. In January, the bank, which leads the US banking sector, announced record annual profits, benefiting from strong performance in dealmaking and trading during the fourth quarter's market recovery.

Meanwhile, the largest US bank's CEO has dismissed petitions of staff seeking work from home.


Notably, some staff at the bank have petitioned the management to soften their work-from-office policy, some employees to soften the bank's five-day return-to-office policy in an animated town hall meeting on Wednesday, according to a recording reviewed by Reuters.

"Don't waste time on it. I don't care how many people sign that fucking petition," JPMorgan Chase CEO Jamie Dimon reportedly said during a town hall meeting.

Dimon demanded more efficiency and stressed that employees have a choice whether to work at JPMorgan. The CEO told them not to be mad at him, and said that it was a free country.

The rollback of remote working policies has prompted groans from some workers as COVID-19 lockdowns receded. JPMorgan's call for more workers to come back brought a deluge of c ..


About 950 people had signed the petition against the five-day policy by Wednesday evening. JPMorgan has more than 317,000 employees worldwide.

Dimon, who has run the lender for 19 years, said some staff did not pay attention during Zoom meetings, which reduced their efficiency and creativity.

JPMorgan's profits surged to a record in 2024 and its share price roughly doubled in the past five years. The strong performance prompted some workers to question why they needed to spend more time in the office.

In-office requirements will not be left up to managers, Dimon said.

"There is no chance that I will leave it up to managers," he said. "Zero chance. The abuse that took place is extraordinary."

Dimon's view is shared by many Wall Street leaders and President Donald Trump, who demanded the end of remote work arrangements in the federal government.

Dimon has asked all the bank's departments to show 10% gains in efficiency, which would entail 10% cuts in reports, meetings, documents and training sessions.

During the town hall, Dimon recounted a story about a wealth management matter that required 14 committee approvals.

"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."