U.S. Bancorp employees will return to the office after Labor Day, with senior executives trickling back as soon as next month.
Andy Cecere, CEO of the nation's fifth-largest bank, which has its corporate headquarters in downtown Minneapolis, sent a memo to employees this week outlining that timeline for getting back to offices in the United States.
In addition, he said that all employees will be told by the end of June whether their positions will be onsite, remote or hybrid based on the company's review of the responsibilities, access to technology, and the benefit of having in-person interaction.
Most positions will be considered hybrid, which means they will generally be expected to be in the office three days a week.
Positions deemed remote don't require face-to-face interaction or a dedicated workspace in the office, he said.
"We determine whether a job should be remote based on where we believe the work is performed best or most effectively, not on the individual or their preference," Cecere wrote.
While some companies are downsizing offices, most notably Target, as they prepare for a future with more hybrid work, a senior U.S. Bank executive told the Star Tribune last month that it's not planning any significant reduction in real estate at its corporate headquarters.
With about 5,000 employees, U.S. Bank is the fifth-largest employer in downtown Minneapolis.
Downtown employers are staggering their returns to the office in the coming months. Some, such as Sleep Number will start coming back in June. Thrivent said it will do so in July and Wells Fargo has said September. Target has generally set the fall as its return date.
At U.S. Bank, all C-suite executives will return by mid-June, followed by its senior leadership group July 6 and other senior vice presidents on Aug. 2. The rest of its corporate employees will return Sept. 7.
Cecere added that he's missed interacting with people in the office in the last year. As more top executives have resumed working on site regularly, he's said he's finding they have "more energy and a better connection with one another."
"Being with other U.S. Bankers — even if they're not on your immediate team — is important to our culture," he wrote. "It helps us feel connected and collaborate more effectively."