|Return To The Office: News & Data Center
After five delayed return-to-office dates, Wells Fargo officially got back into the office on March 14, 2022 with the expectation for employees to come in three days per week. Of the major US banks, Wells Fargo is the one that is most open to remote work. A New York Times article from 2021 stated, “Wells Fargo is bucking a Wall Street trend by leaving the door open to remote work after the pandemic.” As a result, Wells Fargo reduced its office space by 600,000 square feet in New York City throughout 2021.
Here is everything you need to know about Wells Fargo’s return to office plan: the current policy, the timeline of delays, and sentiment from Wells Fargo leadership about how work will be done in the future at the company.
Wells Fargo’s Return To Office: Current Policy
- Return To Office Date: March 14, 2022
- Location Policy: Hybrid
- Office Visit Expectations: Three days per week in the office
- Office Space Footprint: Decreasing
Wells Fargo’s RTO Timeline
September 7, 2021: Delayed by one month
“The San Francisco-based firm, 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.”
October 4, 2021: Delayed by two weeks
“The bank is now aiming to kick off the first phase of its plan on Oct. 4, from a previous Sept. 7 target, according to a memo Thursday from Chief Operating Officer Scott Powell.”
October 18, 2021: Delayed by two weeks
“The company will now begin bringing back staffers who have been working remotely starting Oct. 18, rather than Oct. 4, according to an internal memo Wednesday from Chief Operating Officer Scott Powell. ”
November 1, 2021: Delayed by two weeks
“The firm will now begin bringing back employees who have been working remotely starting Nov. 1, according to an internal memo Tuesday from Chief Operating Officer Scott Powell.”
December 21, 2021: Delayed indefinitely
“Wells Fargo & Co said on Tuesday it has delayed its plans for employees to return to the office given the changing external environment according to a statement.”
March 14, 2022: Wells Fargo’s real return-to-office date
“Most groups will return under a hybrid flexible model beginning March 14 regardless of vaccination status, according to a memo Wednesday from Chief Operating Officer Scott Powell.”
Sentiment From Wells Fargo Leadership
Stance on hybrid work
- “Wells Fargo has embraced a hybrid work model in which many employees work at least three days a week in the office, with the bank’s tech employees given more flexibility” (source).
- “The bank had 254,000 employees, as of September-end , and about 100,000 of them have been reporting to the workplace throughout the pandemic” (source).
Stance on remote work
- “Wells Fargo is bucking a Wall Street trend by leaving the door open to remote work after the pandemic. The bank will allow some flexibility for corporate, technology, operations and call-center employees, although arrangements will vary by job type, according to a memo sent to staff members on Friday” (source).
Stance on office space
- “According to Crain’s, Wells Fargo reduced its commercial space in New York City by 600,000 square feet last year” (source).
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