Canadian Banks’ Back-to-Office Plans Thwarted by Virus Surge
- CIBC, BMO delay return-to-office plans until at least April
- RBC asks some office workers to return to working remotely
CIBC had planned to start relocating employees to a new headquarters complex in Toronto by the end of the year.
Photographer: Stephanie Foden/BloombergThis article is for subscribers only.
A recent surge in Covid-19 cases is derailing Canadian banks’ plans to bring employees back to offices, with one lender even asking some workers who had already returned to go back home.
Canada is now facing about 5,000 new Covid-19 cases a day, prompting provinces and cities including Toronto -- home to the country’s five biggest banks -- to implement new restrictions to limit the virus spread. Even Prime Minister Justin Trudeau recently returned to working from home in an attempt to set a national tone of caution.