JPMorgan Chase ends remote work, employees consider unionizing
What's the story
JPMorgan Chase has announced that from March onward, all its employees will be required to work in-office five days a week.
The decision has caused an uproar among the workforce, especially those who were on hybrid schedules. They have started thinking about unionizing.
According to the Wall Street Journal, the firm was forced to disable comments on an internal webpage after a flood of complaints over the new policy.
Work-life balance
Employee concerns over new policy
Many employees have raised concerns that the new policy will affect their finances and work-life balance. They mentioned increased childcare and commuting costs as potential problems.
One employee expressed their disappointment on LinkedIn, saying, "I've always taken pride in how our firm leads the way in benefits and culture. Yet, I struggle to see how this move will strengthen our organization or positively impact our people."
In-office approach
Company's stance on the decision
Responding to the backlash, JPMorgan Chase admitted in a memo that not everyone will agree with their decision.
"We know that some of you prefer a hybrid schedule and respectfully understand that not everyone will agree with this decision," the company said.
They further justified their stance saying, "We feel that now is the right time to solidify our full-time in-office approach. We think it is the best way to run the company."
Employee action
Unionization: A potential response to policy change
The policy change has prompted some employees to think about unionizing, much like a small group of Well Fargo employees.
Barron's reported that many staff members have expressed interest in this idea by filling out a Google form.
The move toward unionization would be an anomaly in the financial sector, where organized labor has historically had little presence.