State Street Corp., the Boston-based financial services giant, has become the latest large employer to ask employees to spend additional time at the office.
State Street’s North American employees now have a deadline to begin coming into the office at least four days a week: For managers, the new cadence will begin in October, and for all other employees, it will begin in November, a spokesperson confirmed in a statement Wednesday. It was unclear whether or not employees can choose the day they work remotely.
Up until this point, remote work policies were based on individual roles, the spokesperson said.
“We understand the importance of in-person collaboration for our employees and the clients we serve. We are committed to our hybrid work model and continue to evolve it,” said the statement. “We are confident that this model and in-person collaboration will allow us to continue to drive our strategy forward and provide the exceptional service our clients expect from us.”
In addition, State Street announced that it will begin offering employees the ability to work remotely a total of four weeks out of the year, the spokesperson said. Workers can redeem these in increments of one or two weeks at a time.
The move comes in the midst of State Street’s move into its new headquarters at One Congress Street, where it secured a 15-year, 510,000-square-foot lease in 2019. The firm’s headquarters was previously located at One Lincoln, a tower near South Station.
State Street has approximately 42,500 employees globally, the spokesperson said, with about 8,000 of those workers located in Massachusetts. In addition to its Boston offices, the company also has locations in Burlington, Cambridge, North Quincy, Nashua, N.H., Stamford, Conn.