According to a memo sent to the staff on Friday, Wells Fargo will allow flexible arrangements for corporate, technology, call-center, and operations employees. Corporate employees will be expected to return in October and spend a minimum of three days a week in the office, while technology workers will have more remote work options.
Some of Wall Street’s biggest bank and finance corporations are calling back their employees to the office, refusing to continue with remote work arrangements. JP Morgan CEO highlighted the weaknesses of the remote work model in his annual shareholder letter. Similarly, Morgan Stanley CEO is calling New York City employees back, setting fall as the target date for most of the staff to return.
In contrast, Wells Fargo is willing to let employees, depending on their job type, with flexible arrangements. And even those who will need to return to the office will be doing so in September and October – later than other banking giants.
Wells Fargo Announces Flexible Arrangements
On Friday, through an internal memo, Wells Fargo announced its new flexible arrangements. The bank will allow flexibility mostly in four areas:
However, other positions might have different arrangements. This will largely depend on the job type. Wells Fargo chief operating officer Scott E. Powell wrote in the memo:
When we return, our schedules will mostly resemble our pre-pandemic working approach, with additional flexibility.
Most corporate employees are expected to return in October, spending a minimum of three days a week in the office. On the other hand, technology workers will have more remote work options, according to the plan. Operations and call-center employees will perform on a rotational basis in September. Branch employees will stay working at the office, as they have during the coronavirus outbreak.