Add Medtronic (NYSE: MDT) to the growing list of companies and institutions rolling back the work-from-home movement that outlasted the COVID-19 pandemic.
Medtronic is increasing the in-office requirement for currently hybrid employees to four days a week from the previous three days a week, according to a Minnesota Star Tribune report. The Star Tribune cited an internal Medtronic Executive Committee email, which said the changes will initially occur on Sept. 2 with seven U.S. locations prioritized including the medtech giant’s operational headquarters in Fridley, Minnesota.
In a statement shared with MassDevice by a spokesperson, Medtronic confirmed the move to the four-days-a-week requirement. The company said: “This decision is rooted in our belief that in-person exchanges are invaluable to our work. The collaborative energy generated through face-to-face interactions strengthens our operational efficiency and provides the support and community we need to thrive and bring life-saving technology to patients around the world.”
Many companies have sought, in fits and starts, to encourage white-collar workers to return to the office more frequently after the pandemic, but the trend accelerated early this year after President Trump signed an executive order requiring federal workers to return to the office five days a week. Companies, including Amazon and JP Morgan, have returned to five-day-a-week requirements, too.
Even the Minnesota state government, run by former Democratic vice presidential candidate Gov. Tim Walz, plans to have many of its workers show up at the office at least half of the time.
While Medtronic’s latest move aligns with recent trends, the company has also undergone rounds of restructuring, early retirement initiatives, and job cuts in recent years, as CEO Geoff Martha and other company leaders seek to boost the company’s earnings power. The initiatives have hit a bump in the road due to Trump’s trade policy, with the company announcing during its Q4 earnings report this month that tariffs were expected to have a $200–$ 350 million impact on earnings. Revenue is expected to grow around 5% in the new fiscal year.
Martha said at the time: “You can see from the significant amount that we’ve already been able to offset, that we are extremely focused on mitigating actions. You also see from our guidance that the underlying fundamentals of the business are strong, and they’re getting stronger.”
