Factbox-U.S. banks tighten COVID-19 precautions as Omicron variant spreads -Breaking
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© Reuters. FILE PHOTO – A Bank of America logo can be seen in Manhattan, New York City. This was taken on January 30, 2019, U.S.A. REUTERS/Carlo Allegri2/2
(Reuters) – U.S. banks are more proactive than any other industry in encouraging workers back to work, but these plans are now under scrutiny after the spread of Omicron coronavirus.
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. These are the rules that Wall Street’s top banks have adopted to combat pandemics.
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Bank of America Corp (NYSE 🙂
Bank employees have been encouraged to get all their vaccines and get booster shots since the end of summer. There are several clinics available at the bank.
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 employees in New York City told them Wednesday that they can work remotely if it is possible, according to Reuters.
While the bank is requiring all Americans to get vaccinated, they are not ordering boosters. A source earlier stated that the bank provides rapid testing kits and encourages employees to test before they go into the office.
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 employees and visitors who entered its American offices.
The United States requires that staff be tested on-site every week. Access to boosters is available from the bank for eligible customers, but they are optional.
A source close to the situation said that Goldman has canceled its New York holiday parties due to COVID-19 fears. The bank held several holiday parties in the past few weeks.
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. The bank doesn’t perform any onsite testing.
After a series of high-profile cases, the bank requested that staff work remotely and cancelled all travel except for 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. These employees must be tested at least twice per week, and they are also required to contribute more money towards medical insurance. This mandated the provision of vaccines for all new employees in client-facing positions.
JPMorgan allowed Manhattan-based unvaccinated workers to work remotely in December. The Manhattan office also allowed employees who had been vaccinated to wear masks. Managers were also told by the company that it would evaluate them more frequently to determine “who should be allowed to return home”
Morgan Stanley (NYSE:)
Morgan Stanley requires all visitors, employees and contractors to provide proof of vaccines before being allowed into its New York headquarters. According to a spokesperson, the bank doesn’t require any additional COVID-19 testing of staff and visitors.
Bank expects employees who don’t need to attend the bank to use the opportunity to work remotely and spend more time with their family. According to a source, the bank does not send its staff home.
Wells Fargo (NYSE:) & Co
According to the lender, it encourages its employees to get the COVID-19 vaccination but doesn’t require them. All employees were entitled to four hours paid leave for the chance to receive the booster shot, if they are eligible.
Employees were also asked by the bank to document their vaccinations or undergo regular 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: Statements of company, memos, and sources
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