PNC Bank has asked its employees to return to the office five days a week starting from May 4, according to a memo sent to employees on Wednesday. PNC shifted away to remote and hybrid work during the covid-19 pandemic. Since then, employees are working from remote locations.
Earlier, CEO Bill Demchak suggested that working from home benefits employees but harms the company. PNC’s policy change closely follows one at competitor Truist, which ended hybrid work from January 1 after announcing such plans in November. Banks such as JPMorgan Chase have also ordered employees back to a normal five days in the office.
Stanford economist Nicholas Bloom, who has studied work-from-home policies, published research in 2024 that found hybrid schedules to be a “win-win for employee productivity, performance and retention.”
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is one of the largest banks in the US by assets and is one of the largest banks by number of branches, deposits, and number of ATMs.
