Starting May 1, Canada’s largest bank is “shifting toward a more consistent approach to in-person routines,” allowing employees to work from home just one or two days a week. The Globe and Mail reported that RBC said in an internal staff memo that the move would help protect its “competitive edge.” (The Globe and Mail)

Talking point: The policy follows remarks from the bank’s CEO Dave McKay earlier this month that remote work was hurting productivity and innovation. The return-to-office endorsement is a reversal from the early pandemic shift to remote-by-default arrangements favoured by tech firms like Meta and Shopify. While McKay said working face-to-face could improve creativity and company culture, he acknowledged it could also address risks in the bank’s commercial real estate portfolio, as business districts grapple with persistently high vacancy rates.