BlackRock and Wells Fargo delay plans to return to office due to virus

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Two major financial institutions have delayed their plans for a more complete return to office, citing renewed concerns about the outbreak.

In internal memos given to US employees on Thursday morning, BlackRock, the world’s largest money manager, and Wells Fargo, one of the nation’s largest banks, said they would delay their mandatory return plans from September to early October. Both attributed the changes to alarming new developments in the spread of Covid-19 in the US

“We’ve been tracking the Delta variant in different parts of the country and closely following the latest guidelines from public health officials and local government officials encouraging people to wear masks in closed public spaces,” said BlackRock’s chief operating officer. , Rob Goldstein and other officials wrote to employees in their notes. “We know this raises concerns about going back to the office.”

BlackRock said it will only allow vaccinated employees in its offices until October 1, rather than September 8, to better accommodate workers. , DC, where local authorities now require closed masking.

As more BlackRock employees return to their offices, the money manager will introduce a hybrid policy where employees can work three days a week in the office and two days away.

According to a memo sent to staff, employees working from home at Wells Fargo will be recalled from October 4 instead of September 7. Call center and operations employees are expected to be first, followed by corporate and support personnel in November. The delay comes just weeks after the company has announced it will allow more flexibility for employees to work in the office and remotely, unlike other banking giants that have previously called in more staff.

“We will continue to monitor the situation and, if necessary, make further adjustments to prioritize the health and safety of our employees and customers,” Scott Powell, Wells Fargo’s chief operating officer, said in a note to staff.

BlackRock and Wells Fargo encourage employees to get vaccinated.

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