Bank of America Reportedly Bringing Workers Back to Office June 1

Bank of America will bring its U.S. workers, vaccinated or not, back to the office by June 1, Bloomberg reported Tuesday (April 5).

The employees will have some flexibility to work from home but will be “strongly encouraged” to collaborate in person, the reports said.

The company says it recommends workers be fully vaccinated including booster shots. But there will reportedly be no mandate.

The decision has been sent out in an internal memo. Bloomberg wrote that it’s based on a falling COVID caseload as well as “medical guidance,” according to anonymous sources.

Workers will reportedly return in a series of waves and get a 30-day notice.

While work-from-home has been the conventional wisdom for much of the last few years, the receding of the omicron variant has prompted many companies including Bank of America, Citi and JPMorgan to get their employees back in skyscrapers across New York City.

Bank executives have said they’re concerned that junior bankers and traders can’t get the same training and mentorship via Zoom that they can from being in person in the office with senior colleagues.

See also: New Yorkers Want to Cut in-Person Work Hours, Curb Spending, Report Says

PYMNTS wrote that New Yorkers working from home seem to have started to enjoy it, according to a report saying many wanted to cut down their time in office by almost half.

Those employees wanted to spend less money in the city — which has been a challenge for the city and many companies.

The report says the average worker wants to cut their time in office by 49% and cut the amount they spend by $6,730.

The shift to remote work might cut 5% or 10% of city-center populations, and cut down on real estate values.

While New York City Mayor Eric Adams has urged companies to get workers back in offices, many companies have not wanted to push too hard, feeling like they’d alienate employees who have taken a liking to working from home.