TD Bank will require employees to work from the office four days a week starting November 3, joining other major Canadian lenders in ramping up in-person work mandates, The Globe and Mail reported.

The policy applies to corporate tower employees and will see executives return even earlier, starting October 6. The change comes amid ongoing space shortages at downtown Toronto offices, where workers are already facing challenges accessing desks.

In an internal memo obtained by the Globe, TD’s Chief Human Resources Officer Melanie Burns emphasized the benefits of in-person work.

“We’ve seen that when we work together in person, we collaborate more effectively, make better decisions more quickly, learn from each other, and deliver stronger outcomes,” she wrote.

According to the Globe, Burns also acknowledged the need for employees’ flexibility and said the bank will work with them on supporting their needs.

TD is the fourth major Canadian bank to implement such a policy. RBC, BMO, and Scotiabank have already announced similar four-day mandates, with Scotiabank’s policy set to take effect September 15. Some banks, including RBC and Scotiabank, are seeking additional office space to accommodate the shift, according to the Globe and reports from other media outlets.

Mark Fieder, head of Avison Young’s Canadian business, said financial institutions’ return-to-office mandates are driving an uptick in Canada’s office real estate sector.

Pictured: TD Bank headquarters in downtown Toronto.

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