TORONTO, Nov 25 (Reuters) - Bank of Montreal BMO.TO and Canadian Imperial Bank of Commerce CM.TO said employees currently working from home will continue to do so until at least April.
Most office-based employees at Canadian banks have not been working from offices since the start of the coronavirus pandemic in March. A resurgence in cases in many parts of the country, including Toronto, has prompted the resumption of lockdowns and tighter safety measures. has reported 342,444 total cases of COVID-19 and 11,618 deaths. Canada's five biggest banks - Royal Bank of Canada RY.TO , Toronto-Dominion Bank TD.TO , Bank of Nova Scotia BNS.TO , BMO and CIBC all have their biggest offices in Toronto.
"Given latest health authority guidance, we now expect the majority of our colleagues working off-site today will continue to do so until at least April 2021," CIBC's Group Head for People, Culture and Brand Sandy Sharman said in a memo to employees, adding the bank will give staff four weeks notice before any return plan is put into action.
BMO said in a statement that it does not "foresee any broad-based changes for employees who are currently working from home any sooner than April 2021, unless a specific business need exists."
Canada's biggest banks said in July that they most of their employees will continue to work from home until at least year-end.