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Wells Fargo Again Delays Staff's Return to Office, This Time Till January

Wells Fargo again delayed its employees' return to the office. The new target is January, extended from Nov. 1.

Wells Fargo  (WFC) - Get Wells Fargo & Company Report for the second time this month delayed plans to have employees return to the office.

The San Francisco banking giant pushed back its expected date to January. Earlier this month, it pushed to bring employees back to the office on Nov. 1.

It earlier delayed the return due to increased risk from the delta variant of Covid-19. Wells Fargo, which has the biggest workforce of any U.S. bank, had been planning to begin its office reintegration on Oct. 18 before the delay to Nov. 1.

And before that, the bank had planned to bring workers back on Sept. 7. 

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Wells Fargo will offer eligible employees up to an additional four hours of paid time away to get the Covid-19 booster shot, according to a memo, which was viewed by Reuters. 

"We are studying these proposed requirements to better understand how they apply to our [return-to-office] plans, and will share more information when it is available,” Chief Executive Scott Powell had said earlier. 

Banking rivals JPMorgan Chase  (JPM) - Get JPMorgan Chase & Co. (JPM) Report and Goldman Sachs  (GS) - Get Goldman Sachs Group, Inc. (GS) Report have been back in the office for some months. Banks have led the push to go back to the office as the worst of the pandemic seems to be behind the U.S. 

JPMorgan was among the first banks to start returning workers to the office. In April, CEO Jamie Dimon said employees had to return on a rotational basis in order to keep office capacity below 50%.

“Most professionals learn their job through an apprenticeship model, which is almost impossible to replicate in the Zoom world," Dimon said in a memo, according to Investopedia.