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Citi is allowing its hybrid employees to work remotely for two weeks of their choice in August, according to a memo seen Monday by Banking Dive.
“We've selected August because it is traditionally a quieter time for some of our businesses and clients, when many are already out of the office due to vacations,” Sara Wechter, the bank’s chief human resources officer, wrote in the memo, first reported by Business Insider.
Citi was an early COVID-era pioneer in its devotion to hybrid scheduling – a commitment the bank reaffirmed Monday, calling it an effective tool to attract and retain talent.
While Citi has offered a similar two-week remote period to hybrid employees every December, it hasn’t given a blanket out-of-office green light in August since 2022.
Citi’s lean into remote work runs counter to a prevailing industry trend that has seen JPMorgan Chase, BNY and Royal Bank of Canada, so far this year, increase the number of days employees are required to work from the office.
JPMorgan in January told employees companywide to return to the office five days a week starting in March.
“We know that some of you prefer a hybrid schedule and respectfully understand that not everyone will agree with this decision,” JPMorgan’s operating committee wrote at the time in a memo. “We think it is the best way to run the company.”
BNY called its employees back to the office four days a week starting in September – but with a caveat that the bank did not intend to push the mandate further.
“We have no plans to return to 5 days in office unless circumstances were to demand otherwise,” BNY said in its April memo.
RBC, meanwhile, said last month that it wants its employees – at least those not already in the office full time or remote full time – to work from the office four days a week starting in September.
That marks only a slight change, though, from the stance the Toronto-based lender took in March 2023, when it gave its hybrid workers the option to work from the office three or four days a week.
RBC is not the only Canadian lender to tighten its reins on in-office work. Scotiabank last week said it would require teams that work in locations with “real estate capacity” to begin coming into the office “4+ days per week” in September, according to an internal memo to Toronto area employees.