Wells Fargo says return to office will look ‘mostly’ like pre-Covid

Wells Fargo says return to office will look ‘mostly’ like pre-Covid
The bank, with almost 260,000 employees, will start calling workers back to the office on Sept. 7, a process that will continue through October, according to an internal memo.
JUL 16, 2021
By  Bloomberg

Wells Fargo & Co., the U.S. bank with the most employees, is laying out a back-to-office plan set to begin in September, telling staff their schedules will look a lot like they did before the pandemic.

The firm, which has almost 260,000 workers, will start calling those who have been working remotely back to the office on Sept. 7, and the process will continue through October, according to an internal memo Friday. Wells Fargo will also begin collecting employees’ vaccination statuses next week.

“When we return, our schedules will mostly resemble our pre-pandemic working approach, with additional flexibility,” chief operating officer Scott Powell wrote in the memo. “Choosing not to get vaccinated will not influence your ability to work remotely.”

U.S. banking giants have been forging ahead with back-to-office plans in recent weeks, sketching out approaches that vary in flexibility. Wells Fargo said in March that it aimed to return to a “more normal operating model” in September, with details to follow.

Like its peers, Wells Fargo is closely watching the delta variant of the coronavirus as the bank moves forward with plans to bring employees back, Powell said in an interview.

“If something dramatic starts to happen with the variants, we would change our plans if we have to change our plans,” he said.

Employees in operations and contact centers will return on a rotational basis, which the firm expects will be temporary, according to the memo. Workers in enterprise functions such as risk, finance and legal, as well as non-customer-facing teams in the business lines, will have flexibility to work remotely as many as two days a week. Technology employees will have more flexibility to work remotely.

“We’ve learned a lot over the last 16 months about providing employees with flexibility, but at the same time we still think it’s very important to come together in our various workplaces,” Powell said. “I think about my own career, how different it would’ve been if I didn’t get feedback and have the opportunity to learn on the job and learn how things got done.”

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.