Employees face new hybrid rules by November as TD updates workplace policy and merchant services
Toronto-Dominion Bank will require employees to work from the office four days a week, making it the latest major Canadian bank to tighten its hybrid work policy.
According to a staff memo cited by BNN Bloomberg, executive-level employees must begin complying by October 6, with non-executive employees expected to follow on November 3.
In the memo, Chief Human Resources Officer Melanie Burns said working in person “helps collaboration, decision making, learning and outcomes,” while also supporting career development and company culture.
Burns added that while many office locations will be ready by November 3, some will take more time, and those employees will receive separate instructions in the coming weeks.
TD follows Royal Bank of Canada, Bank of Montreal, and Bank of Nova Scotia, which are also moving to a four-day in-office model beginning in September.
As reported by BNN Bloomberg, some of these banks noted that their timelines may depend on office space availability.
Burns said managers will retain flexibility to allow occasional extra work-from-home days and noted the bank remains focused on ensuring workspaces meet staff needs.
Alongside the workplace policy update, TD Bank also announced a strategic relationship with Fiserv.
As per a TD press release, the partnership will support TD Merchant Solutions (TDMS) by integrating Fiserv’s Clover product offering and payment processing tools into its services.
The bank stated the transition will be seamless for clients, who will continue to accept debit and credit payments.
The deal includes Fiserv acquiring a select portfolio of 3,400 TDMS merchant group contracts, covering about 30,000 merchant locations.
The agreement is subject to customary closing conditions and is expected to take effect in late fiscal 2025.
TD said the relationship will simplify TDMS operations, reduce costs, and improve financial performance over time.
