“In the U.S., as we look at the environment and follow our commitment to provide 30 days’ notice, we have decided to make it simple: returns will start after Labor Day, Sept. 7,” the bank announced in a memo to its workforce Wednesday that was seen by Bloomberg.
A bank spokesman confirmed the contents of the memo to Bloomberg.
The move will proceed gradually, a source told Bloomberg. The exact numbers weren't available.
The U.S. has recorded almost 2.7 million infections, nearly double the amount of No. 2 Brazil. The U.S. has experienced more than 128,000 deaths. Among big states, Florida and Texas have seen coronavirus cases rise particularly fast.
Bank of America shares recently traded at $23.35, up 0.41%, and have gained 18% over the last three months.
The giant bank will hold off on the return of a small percentage of workers in 13 states recently affected by the coronavirus, including Texas, South Dakota, Idaho and Florida, a source said.
Citigroup still plans to bring back about 5% of its workers to offices across the Northeast, including New York, the source said.
“We delayed our return to a number of sites across the U.S. given the health data in those locations,” the bank said.