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Friday, May 24, 2024

Truist wants workers back in the office

Truist is requiring its hybrid workers to start working four days a week at the office, which will affect a majority of the Charlotte-based company’s workforce.

The change takes effect Oct. 1.

“As we continue to prioritize the focus on long-term growth, we believe our best work comes from being together,” the company said in an e-mailed statement. “In alignment with our purpose, increasing in-person interactions allows us to reinvigorate a connected culture and continue building on the progress we’ve made.”

Bank of America and many other large employers expect staff members to work at the office at least three days a week, similar to Truist’s current policy.

Truist also is requiring its investment banking staffers to show up five days a week, versus four under current policy, Bloomberg News reported Wednesday.

Truist employed about 50,800 people at the end of 2023. It has launched cost-cutting measures and sold its insurance brokerage business to boost capital and its share price, which has underperformed industry averages in recent years.

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