Latest news with #officeReturn
Yahoo
28-06-2025
- Business
- Yahoo
Another bank joins the lineup, telling employees it's time to get back to the office
Bank of Montreal is mandating that employees return to the office for four days a week starting Sept 15. This move mirrors other banks in Canada and the US that have ramped up RTO requirements. Citibank is going against the trend and recently doubled down on flexible work. Banks are demanding that employees get back to the office, and Bank of Montreal is the latest to join the list. The investment banking company told employees in a statement Thursday that they'll be expected to work on-site four days a week starting on September 15, "where existing real estate capacity permits," according to a statement to Business Insider. "Our workplaces have a powerful role to help us serve our clients and communities, while shaping our culture and organizational productivity," BMO spokesperson John Fenton told BI. The company, which currently has over 53,000 employees as of the end of January, added that it has invested in workplaces "designed to maximize team performance by promoting collaboration, problem solving, mentorship, innovation, and career development," such as the BMO Place in Toronto. Banks across Canada and the US have implemented RTO measures. Scotiabank recently announced a four-day in-office requirement beginning in September, citing the need for more collaboration, and the Royal Bank of Canada is also preparing to bring staff back in person at the same frequency. In the US, JPMorgan is implementing a hardline full five-day RTO mandate, which has received backlash from workers who are now looking to form a union and considering offers from competitors, BI's Reed Alexander previously reported.. Bank of New York Mellon said that starting September 2, employees are required to be in the office at least four days a week, transitioning away from the previous three-day-per-week hybrid model. Meanwhile, both Wells Fargo and Bank of America have required that client-facing staff be on-site at least four or five days a week, with other employees required to show up in the office at least three days a week. Morgan Stanley and US Bank have also implemented similar three-day in-office requirements. However, some banks are also taking the opposite approach to attract and retain talent. Citibank CEO Jane Fraser, 57, framed hybrid work as a competitive advantage and even shared how flexible work has enabled her to remain in the workforce as a mother juggling multiple positions. Earlier this month, Citibank also said in a memo that it's giving all hybrid employees who are required to be in the office three days a week two weeks of fully remote work in August, taking into account the need to spend time with families during summer. Read the original article on Business Insider Sign in to access your portfolio
Bloomberg
09-06-2025
- Business
- Bloomberg
Scotiabank Calls Its Head-Office Staff Back in Four Days a Week
Bank of Nova Scotia plans to call head-office employees back to the office four or more days per week starting in September, citing a push for more collaboration as it follows recent moves by other big lenders including Royal Bank of Canada and JPMorgan Chase & Co. Toronto-based Scotiabank said it will require teams with 'real estate capacity' to increase their days spent working in the office to '4+ days per week,' according to an internal memo sent to Canadian banking employees in the Greater Toronto Area last week. The memo, reviewed by Bloomberg News, wasn't sent to branch workers, who are already working onsite full time.
Bloomberg
09-06-2025
- Business
- Bloomberg
Banks Want Staff Back at the Office. There Aren't Enough Desks
By and Nicholas Comfort Save Five years after the Covid pandemic fueled an unprecedented boom in remote work, bank executives have become ever more vocal in their insistence that workers should return to the office. In a growing number of cases, however, they don't have enough desks. JPMorgan Chase & Co. has just signed up for thousands more in the UK and Paris. Spain's Banco Bilbao Vizcaya Argentaria SA is running short of office space in the UK for its growing corporate and investment banking teams. And HSBC Holdings Plc, which touted its plans to slash space in the aftermath of the pandemic, now has a shortage that could run to as many as 7,700 desks in London. To cope, its in talks to lease a second new building a stone's throw from its current base, having previously agreed to vacate Canary Wharf in favor of a new and smaller global headquarters in the City of London in 2023.
Reuters
29-05-2025
- Business
- Reuters
Canada's RBC asks staff to return to office four days a week
TORONTO, May 29 (Reuters) - Royal Bank of Canada ( opens new tab has asked employees to be in office four times a week starting in September, according to a memo seen by Reuters, prompting disapproval among some staff discussing the changes in internal chat groups. The memos from various business heads were sent to staff on Thursday shortly after the bank reported second-quarter earnings that were lower than analysts' expectations due to a rise in loan loss provisions to prepare for uncertain times. The memo said the rule does not apply for roles that are fully remote or are already in full-time office arrangements. "RBC is a relationship-driven bank and in-person, human connection is core to our winning culture. We set the expectation in 2023 that we'd come together in the office for the majority of the time, with the flexibility to work remotely one to two days a week," a spokesperson said. A company-wide internal chat group that discussed the change in policy raised questions such as additional travel time and expenses related to transport, a source told Reuters. The Canadian lender's decision comes shortly after U.S. bank JPMorgan Chase (JPM.N), opens new tab, in January asked its employees who are on hybrid work schedules to return to the office five days a week starting in March. RBC has over 94,000 full-time employees across global offices, as of April 30.
Fast Company
27-05-2025
- Business
- Fast Company
The return-to-office mandate is here. So is the open office. One has to go.
It's official: The era of remote work flexibility is over. From Fortune 100 companies to federal agencies, employees are being summoned back to office towers and cubicles under sweeping return-to-work (RTO) mandates. According to a January 2025 survey by Resume Builder, nine in ten companies will require workers back in the office by the end of the year, with 30% already enforcing full five-day, in-office schedules. The problem? We've failed to consider what employees lose when they leave their home workspaces behind. The office doesn't just move—it takes away employees' control over their environment. At home, employees discovered something revolutionary: control. They could adjust the lighting. Lower the noise. Choose their chair, temperature, background music, and even the scent of their workspace. For the first time, people could truly customize their environment to optimize their productivity. And it worked. Studies show employees working from home report lower stress, better focus, and higher productivity. But when they return to standardized open layouts complete with bright overhead lights, echoing voices, and a one-size-fits-all desk, they don't just lose flexibility; they lose the ability to perform at their best. For neurodiverse individuals, the consequences are even more acute. People with sensory sensitivities and learning differences such as ADHD, autism, anxiety, and dyslexia may find traditional offices overwhelming, disorienting, even paralyzing. In fact, 40% of neurodiverse individuals remain unemployed, often because the workspace itself is the barrier. A few years ago, I walked into a client's office and saw rows of open desks, bright overhead lighting, people chatting all around, and I instantly thought, 'There's no way I could work here.' As someone with dyslexia and ADHD, these environments have always been a challenge. I used to spend hours trying to find quiet corners, using noise-canceling headphones just to focus, or even working odd hours at home where I could control my space. That was a lightbulb moment for me: The modern office isn't designed for everyone—and certainly not for people like me. We talk a lot about square footage, seating charts, and collaboration spaces, but rarely do we talk about airflow, acoustics, texture, or privacy control. Yet these are the levers that most directly affect how people feel and perform at work. And research backs this up: Biophilic design —the integration of natural elements like plants, wood textures, and natural light— reduces stress by 30% and boosts cognitive function by 15%. Adjustable lighting and noise levels help people maintain focus, especially those with sensory sensitivities. Personalized workspaces help employees stay more engaged, more productive, and twice as likely to stay with their employer. These aren't luxury features. They are performance infrastructure that unlock human potential. IF YOU WANT A PEACEFUL AND EFFICIENT TRANSITION BACK TO OFFICE, GIVE EMPLOYEES CONTROL Return-to-office doesn't have to be a loss. It can be a gain. But only if we rethink how the office functions. It's time to move away from rigid, standardized layouts and instead design environments that adapt to the employee—not the other way around. That means letting go of the idea that more desks equals more work, or that open layouts naturally lead to collaboration. In reality, employees need environments that help them stay focused, manage stress, and feel comfortable being themselves. We've spent the last five years learning what people need to be productive. They need flexibility, sensory awareness, and control over their space. Ignoring those lessons now won't bring back the old office culture—it will just breed resentment and churn. Let's stop asking workers to leave their best work conditions behind. Instead, let's meet them halfway with offices that reflect what we've learned: Control is not a perk—it's a prerequisite for performance. As we usher in a new era of work, let's not default to old environments. Let's create spaces where everyone—not just the neurotypical, not just the extroverts—can thrive. Because when we design for the extreme, we uplift the mean.
