PNC mandates 5-day RTO starting May 4

"Five years ago, we made a necessary shift in how we work moving away from our in-office model to prioritize your health and safety during an unprecedented time, CEO Bill Demchak wrote in a memo seen by the Pittsburgh Post-Gazette and confirmed by a spokesperson. Today, our world has changed, and so has PNC, Demchak said. As we look ahead, it's time to return to the way we work best: together, in person."

"PNC's policy change closely follows one at competitor Truist, which ended hybrid work Jan. 1 after announcing such plans in November. PNC and other banks have gradually required employees to come back to the office for a greater share of the workweek since the COVID-19 pandemic sent everyone home in 2020. In the intervening years, banks such as JPMorgan Chase have ordered employees' back to a normal five days in the office. PNC has always been an in-office company, Demchak wrote in the memo. It's not just how we operate it's part of our culture. We are a relationship-driven organization, and our strength lies in the connection we build with each other, our clients and our communities."

PNC will require employees to return to in-office work five days a week starting May 4. The company shifted to remote work five years earlier to prioritize employee health and safety during the pandemic. The company cites changed circumstances and the benefits of in-person collaboration, relationship-building and culture as reasons for the reversal. The change follows competitor Truist ending hybrid work and aligns with other banks increasing on-site expectations, including JPMorgan Chase. Stanford economist Nicholas Bloom's 2024 research found hybrid schedules can improve productivity, performance and retention but are often conflated with fully remote work, which can pose management issues.

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