Bank of America Plans to Bring All U.S. Workers Back to Office by June 1

(Bloomberg) -- Bank of America Corp. plans to bring all its U.S. workers, both vaccinated and unvaccinated, back to the office by June 1.

Employees will still have some flexibility to work from home, but are strongly encouraged to collaborate with colleagues in person, according to people familiar with the matter. The company recommends workers be fully vaccinated, including booster shots, but doesn't have a mandate.

The decision, communicated this week in an internal memo, is based on the nation's falling caseload and medical guidance, the people said, asking not to be identified discussing a private matter. Workers will return in a series of waves and get 30-days notice.

As the omicron variant receded earlier this year and wide swaths of the industry's workforce got vaccinated and boosted, Wall Street firms including Charlotte, North Carolina-based Bank of America, Citigroup Inc. and JPMorgan Chase & Co. started bringing employees back to skyscrapers across New York City. Bank of America asked some staff to return to their offices in recent months based on their local region's Covid-19 cases. 

Bank executives have voiced concern that junior bankers and traders can't get the same kind of training and mentorship over Zoom that they can from being in the office alongside more senior colleagues. Bank of America has encouraged its younger staff to come in so they can meet their bosses in person, Chief Executive Officer Brian Moynihan said last year.

Read more about BofA's return-to-office strategy

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