Charles Schwab says its staff will start returning to the office in late April, and it will not require them to be vaccinated, according to news reports.
The company will begin a “sequenced” return “in eight groups by location, beginning April 25,” a spokesperson told FA-IQ sister publication Ignites, without specifying the locations.
Schwab, like many firms around the country, delayed its previously set January return to the office in the wake of the rise of omicron cases, according to the publication.
And Schwab — based in Westlake, Texas — doesn’t appear to be requiring vaccinations for employees returning to the office, unlike some firms with offices in New York, according to Ignites.
“We encourage all colleagues to spend time getting educated on the vaccines and to get vaccinated if it is appropriate for them,” the spokesperson wrote in an email to the publication.
Earlier this year, Citigroup told its U.S. staff that they’ll be fired if they don’t get vaccinated. JPMorgan started enforcing a vaccine mandate in December but allowed unvaccinated workers to return to the office if they got tested twice a week, as reported.
Schwab’s decision comes after President Joe Biden’s executive order mandating federal contractors to get vaccinated was stayed by six federal courts, Ignites writes, citing a Thompson Hine client alert. And last month, the U.S. Supreme Court struck down Biden’s requirement that companies with 100 or more workers require them to be vaccinated or tested weekly, according to the publication.
Like many of its peers in the financial services industry, however, Schwab is taking a hybrid approach in which remote work will supplement working from the office.
The approach is “designed to balance the importance our employees place on workplace flexibility with the benefit of in-person interactions to train and learn from one another, build human connections, collaborate and maintain Schwab’s culture as we serve our clients,” the spokesperson told Ignites.
Wells Fargo likewise said earlier this month that it would require staff to come into offices only three days a week in most cases. And Edward Jones, which like Schwab set its return-to-office date for April 25, is allowing its managers and staff to find the right balance between remote and office work, as reported.
Schwab had about 33,400 employees as of December 31, according to the publication.
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