Major Banks Push for In-Person Work—But Offices Strain
Canada’s banking sector is shifting gears on hybrid work. Toronto-Dominion Bank is the latest institution requiring employees to return to corporate offices four days a week, joining RBC, BMO, and Scotiabank in a coordinated move to reinvigorate workplace culture. The new policy begins November 3, with executives leading the charge from early October.
But the push for physical presence is already colliding with a practical problem: there simply aren’t enough desks. In downtown Toronto, one of the country’s densest business hubs, bank staff are reportedly scrambling to secure workspace—weeks before the policy fully takes effect. This growing friction highlights a mismatch between policy ambitions and physical capacity.
Culture vs Capacity: A Growing Dilemma
TD’s internal communications emphasized the benefits of in-person collaboration, claiming faster decisions, stronger team learning, and deeper cultural alignment. Yet the enthusiasm contrasts with the challenges faced on the ground. Limited real estate in high-rise towers is forcing companies to reevaluate layouts, schedules, and even search for new office space.
RBC and Scotiabank are already exploring expansion options to relieve the pressure. At the same time, TD acknowledged in its memo that full implementation may be delayed for teams whose buildings can’t yet accommodate the shift. This flexibility underscores the logistical complexities of returning thousands of employees to physical offices after years of remote work norms.
Signals from the U.S. Reinforce the Trend
The policy wave is not confined to Canada. In the United States, JPMorgan Chase has moved further, calling on employees to return five days a week. That precedent suggests North American financial institutions are moving away from remote-first models and toward traditional work structures—despite resistance from parts of their workforce.
TD’s leadership notes that occasional remote work will still be permitted with manager approval, but the direction is clear: office work is no longer optional. The shift is part of a broader post-pandemic recalibration that puts physical presence at the heart of productivity, even if infrastructure is still catching up.
What’s at Stake for Employers and Workers
The return-to-office mandate could reshape how banks operate and compete. For employers, it’s a bet on culture, communication, and innovation. For employees, it means adjusting to long commutes, navigating office overcrowding, and balancing flexibility with visibility. Whether this shift leads to stronger performance—or just more stress—remains an open question.
In the short term, one thing is certain: Canada’s largest banks are testing the limits of office capacity and employee adaptability. What happens next may influence workplace policies far beyond the financial sector.
