Bank of America is taking a firm stance with regard to employees who fail to adhere to its return-to-office directive. The bank is reportedly issuing ‘letters of education’ cautioning staff of potential disciplinary measures for those opting to work remotely.
The said letters, sent to certain bank employees, indicate a failure to meet the company’s ‘workplace excellence guidelines’ despite previous reminders and requests. Employees were explicitly warned that non-compliance with the return-to-office expectations may result in further disciplinary action.
This move follows a trend among various companies, such as Meta and TCS, among others, to enforce mandatory office attendance.
Since October 2022, the second-largest bank in the United States, based on assets, has mandated that the majority of its employees must be present in the office for a minimum of three days per week. Additionally, employees in client-facing roles, such as sales and trading, are expected to be in the office for the full five working days, albeit with some level of flexibility.
While Bank of America has chosen not to provide an official statement on this policy, information obtained by Fortune suggests that U.S. employees were forewarned about non-compliance with the company’s return-to-work guidelines before receiving a formal notification.
This development follows reports of staff layoffs in Asia, attributed to China’s slow economic recovery and heightened global political tensions impacting deal-making.