Not Everyone Agrees With the Decision
The memo went on to say that its signatories “respectfully understand that not everyone will agree with this decision” – a sentiment that was proved correct in the immediate aftermath.
Reuters has reported that staff have pushed back against the decision by posting negative comments on the company’s intranet site. Its anonymous sources told the news site that comments on the page were locked after 300 were made in the first hour after the memo was circulated.
Increased commuting and childcare costs, mental health concerns and stress were all reasons given for the dissension among those who commented.
Financial news magazine Barron’s has since reported (paywalled) that JPMorgan may be facing unionization of its workforce as a consequence.
It says that some staff have discussed the possibility privately, following the lead of some employees at competitor Wells Fargo. A Google form has been circulated among affected staff, it says, asking whether colleagues would support an effort to organize a union.
