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Factbox-U.S. banks tighten COVID-19 precautions as Omicron variant spreads -Breaking

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© Reuters. FILEPHOTO: The Bank of America logo in Manhattan, New York City is shown on January 30, 2019. REUTERS/Carlo Allegri

(Reuters) – U.S. banks are more proactive than any other industry in encouraging workers back to work, however these plans have come under scrutiny because of rapid spreading Omicron coronavirus variant. Many have reworked their plans.

While most major U.S. bank have employees working in the offices since summer, others now choose not to throw holiday parties or strongly encourage staff to receive booster shots. Here are some guidelines for Wall Street’s largest banks in relation to pandemics.

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Bank of America Corp (NYSE 🙂

Bank employees have been encouraged to get fully vaccinated since the end of summer and to receive booster shots when they are eligible. The bank offers clinics at several locations.

New York City bank employees were told by the bank in December they can work at home over the holiday season and given free COVID-19 tests kits.

Citigroup Inc (NYSE:)

Citigroup C.N said Wednesday to employees in New York City that it would allow them to work from home if needed, according Reuters.

Although the bank requires that all employees be immunized in America, it does not mandate boosters. According to a source, the bank is offering quick test kits as well as encouraging employees to get tested before entering its offices.

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:)

Due to an outbreak of the Delta virus, August saw an increase in infections. Wall Street Bank ordered that all employees and visitors visiting its office in the United States receive vaccines.

The United States requires that staff be tested on-site every week. The bank provides boosters to those who are eligible. However, boosters do not have to be mandatory.

According to a source, Goldman delayed its holiday parties in New York because of COVID-19 worries. The bank held several holiday parties in the recent weeks.

Jefferies (NYSE:)

Investment bank staff must have COVID-19 vaccinations before they can enter their offices. They also require boosters for all employees by Jan. 31. 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:)

American’s largest bank, one that has always been aggressive in returning employees to its office, ordered U.S. workers to cover their faces in August. It stated they would have to use masks indoors and outdoors, regardless of whether or not they are vaccinated.

In October, the bank announced that employees not vaccinated and/or who have not reported their status would be prohibited from traveling to business. Employees in this category are required to be tested two times per week. They also have to pay more towards their medical insurance. This mandate also requires that new employees in client-facing positions receive vaccines.

JPMorgan gave instructions to Manhattan’s unvaccinated employees in December that they could work remotely. The Manhattan office also allowed employees to work from home without having to remove their masks.

Morgan Stanley (NYSE:)

Morgan Stanley requires all visitors, employees, and contractors to provide proof of immunization before they can enter its New York headquarters. A spokeswoman for the bank stated that visitors and staff do not need additional COVID-19 testing.

Wells Fargo (NYSE:) & Co

Although the bank strongly recommends that employees get the COVID-19 vaccine, they do not have to. If eligible, the bank provided four hours of paid time to all employees for the booster shot.

Additionally, the bank required that employees either prove they were fully vaccinated and/or undergo routine testing.

Fidelity Investments

Company stated that it was suspending its voluntary New England return-to office plans due to rising risks from the COVID-19 epidemic.

Sources: Memos and company statements

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