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Canada's Royal Bank tells staff to keep working remotely

Published 01/06/2022, 09:29 AM
Updated 01/06/2022, 10:21 AM
© Reuters. FILE PHOTO: A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021.  REUTERS/Carlos Osorio
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By Nichola Saminather

TORONTO (Reuters) - Royal Bank of Canada has advised all employees in regions including Ontario and Quebec to work remotely if their jobs allow, following advice from these provincial governments, a spokesperson said in a statement late on Wednesday.

Royal Bank, unlike some rivals, did not provide a firm return-to-office date, and leaders had encouraged employees to work from home in December, according to the emailed statement.

In the past week, both Ontario and Quebec announced renewed restrictions amid a surge in COVID-19 cases due to the Omicron variant.

© Reuters. FILE PHOTO: A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021.  REUTERS/Carlos Osorio

Royal Bank, Canada's biggest bank by market value, joins all its major rivals in keeping employees at home. In December, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada (OTC:NTIOF), as well as insurer Manulife Financial (NYSE:MFC) Corp, all halted plans to bring employees back to their work locations in early 2022.

Several Wall Street banks and investment firms including Bank of America (NYSE:BAC), Citigroup (NYSE:C) and Jefferies Financial Group have also reversed their push to get staff back to the office due to the spread of Omicron.

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