Wells Fargo Plans for Return to Office ‘Soon After Labor Day’
(Bloomberg) -- Wells Fargo & Co., the U.S. bank with the largest workforce, is making plans to bring its employees back into offices in September.
The company, which has about 200,000 employees working from home, is extending that arrangement through Sept. 6, and aims to return to a “more normal operating model” that month, according to a memo Tuesday from Chief Executive Officer Charlie Scharf and Chief Operating Officer Scott Powell.
“We are encouraged by the significant increase in vaccination availability and have started to plan for a return to a more normal operating model in September, soon after the Labor Day holiday in the U.S.,” Scharf and Powell wrote, adding that the firm will “follow the science” in its decision-making.
Return-to-office prospects are getting clearer more than a year after Wall Street sent employees home to stop the spread of the coronavirus. At JPMorgan Chase & Co., hundreds of interns are set to work in the lender’s New York and London offices in the coming months. Citigroup Inc. will begin inviting more workers back to its offices in July and Goldman Sachs Group Inc. told its incoming class of summer interns that they’ll be able to work from the company’s offices.
At Wells Fargo, leaders are still working out exactly what the return to office will look like.
“We know you have many questions about what this means for you,” Scharf and Powell wrote. “We will be candid: We don’t have the answers yet. We will spend the next several weeks and months developing them, and we will share our progress along the way.”
The Wall Street Journal reported earlier Tuesday on the memo.
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