JPMorgan Chase employees believe their work-life balance and health and well-being declined following the bank’s decision to return to office full-time in March, Barron’s reports. Based on an internal survey released this week of 90% of the workforce, the aforementioned areas scored lowest, alongside opportunities for internal mobility.
That was the point. It’s an unstructured layoff, where they create conditions that will force people to quit which reduces costs. But it does not carry the same scrutiny and regulation of a formal layoff.
Edit: The other factor I think is causing these return to office requirements, is that the venn diagram of commercial real estate investors and sitting corporate board members is a circle.
Investors should be demanding the paper trail for how these RTO decisions are made. It’s going to hurt a company’s ability to hire the best candidates in the long run and that’s going to affect profits.