Most of the company’s Canadian employees who are now working remotely will return to the office on a hybrid basis, Sandy Sharman, group head of people, culture and brand, said in an emailed statement Tuesday. U.S. staffers started to return on a voluntary basis on Jan. 28, with a formal return date of Feb. 28.
“Our hybrid model will allow our team to benefit from the flexibility and productivity that can be achieved from working remotely, while blending that with the benefits of in-person work with colleagues to further build culture and collaboration,” Sharman said in the statement.
Canadian provinces have been loosening virus-related restrictions on public gatherings as the number of coronavirus cases and hospitalizations ebbs. Ontario, where CIBC is based, reported 1,038 people hospitalized due to Covid-19 as of Tuesday, compared with counts of more than 4,000 at points last month.
National Bank of Canada will allow its offices to be filled to 50 per cent of capacity starting Feb. 28 at the latest, spokeswoman Marie-Pierre Jodoin said in an email. The company will adapt its hybrid model more broadly in April, she said.
CIBC’s plan to bring workers back, which also marks the start of its phased move to its new headquarters building in Toronto, is the first large-scale return-to-office plan announced by one of Canada’s major banks this year. Bank of Nova Scotia in November said it would bring workers back to the office on Jan. 17, only to halt that plan less than a month later as the omicron variant spread. Bank of Montreal started bringing back corporate and investment bankers earlier this month.
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