Factbox-U.S. banks tighten COVID-19 precautions as Omicron variant spreads -Breaking
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© Reuters. FILE PHOTO – A man shelters from rain in a Bank of America bank in New York City’s financial district during an outbreak of coronavirus (COVID-19), in New York City. This was on April 23, 2020. REUTERS/Eduardo Munoz/File Photo2/2
(Reuters) – U.S. banks have been more proactive than other industries in encouraging employees back to the office, but those plans have come under renewed scrutiny due to the rapid spread of the Omicron variant, with Jefferies (NYSE:) Financial Group https://www.reuters.com/world/us/jefferies-cancels-parties-travel-sends-employees-back-home-due-covid-19-2021-12-08 last week reversing course due to a COVID-19 outbreak among employees.
Major U.S. banks still have staff in their offices from the summer. However, some choose not to throw holiday parties or strongly recommend staff receive booster shots. These are the rules that Wall Street’s top banks have adopted to combat pandemics.
Bank of America Corp (NYSE 🙂
Since late summer, the bank has encouraged employees to be fully vaccinated.
Citigroup Inc (NYSE:)
While the bank will require employees to get vaccinated in the United States for their protection, they are not mandating boosters. According to Reuters, the bank is offering quick test kits as well as encouraging employees to get tested before they go into work.
Deutsche Bank (DE:)
A source close to the matter said that COVID-19 boosters have been made available by the German lender to employees at its New York City headquarters, located in Midtown.
Goldman Sachs Group Inc (NYSE:)
In August, infections erupted due to the spread of the Delta variant. The Wall Street Bank mandated vaccinations for its staff and all visitors who entered its American offices.
The United States requires that all staff be tested on-site every week. The bank provides access to boosters for eligible employees, though boosters are not required.
Jefferies
All employees who wish to work at the investment bank must be immunized against COVID-19. The bank has stated that boosters will be required by January 31 unless they are not eligible. It does not conduct onsite testing.
Following a number of incidents, the bank ordered staff members to work at home and cancelled any travel other than essential.
JPMorgan Chase & Co (NYSE:)
In August, the largest U.S. bank and the one most active in returning employees to work, required that all employees wear face covers in public settings.
The bank announced in October that it will restrict travel by employees who haven’t been vaccinated and/or are not able to disclose their status. Employees in this category are required to be tested two times per week. They also have to pay more towards medical insurance.
Bank mandates vaccines to all new hires who are required to travel or work with clients.
Morgan Stanley (NYSE:)
According to the bank, it asked U.S. employees who were based in America to show proof that they had been immunized against COVID-19 before Oct. 1. According to a source, earlier in June the bank barred visitors and clients from its New York and Westchester offices.
Sources said that those who weren’t fully vaccinated would be able to work remotely.
Wells Fargo (NYSE:) & Co
Although the bank strongly recommends that employees get the COVID-19 vaccine it does not require. If eligible, the bank provided four hours of paid time to all employees for the booster shot.
Employees were also asked by the bank to document their vaccination status or undergo regular testing.
Fidelity Investments
Company stated that it suspended voluntary office return plans in New England because of the rising threat from COVID-19.
Source: memos, statements and sources from companies
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