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Citigroup is the first major Wall Street bank to terminate unvaccinated workers


On June 1, 2018, pedestrians crossed a street in front of the Sydney branch of Citigroup Citibank in Sydney.

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CitigroupThe first Wall Street institution will enforce the vaccine mandateNon-compliance workers must be terminated by the month’s end.

In a Friday memo, the bank reminded its employees about its policy. first disclosedIn October they were required to be fully vaccinated before being hired. The bank stated that the employees must submit a report at the time. proofImmunization by January 14.

According to Bloomberg’s memo, those who don’t comply by next week are put on unpaid leaves. Their last day of work is Jan. 31. The New York-based bank spokeswoman declined to comment.

Citigroup is the U.S.’s third largest bank in assets, and it has been a key player in fixed income markets. It also boasts the strongest vaccine policy of any Wall Street firm. There are also rival banks JPMorgan Chase Goldman SachsWe have not yet taken any action to terminate unvaccinated workers.

Citigroup CEO Jane FraserSince March last year, the bank stated that it took this decision as it was obligated to follow President Joe Biden’s executive order regarding vaccines. It also stated that the enforcement of the mandate would ensure safety for employees returning to office.

According to someone familiar with the subject, more than 90% of workers comply with the mandate for vaccines. This number is expected to rise as the deadline approaches, said a source.

Although some tech companies embrace remote work, Wall Street CEOs like JPMorgan have not. Jamie DimonMorgan Stanley James GormanHave been loud about needing workers to be rehired.

However, the pandemic has caused companies to stop back-to work plans due to the spread of Covid-19’s omicron version.

This is a developing story. Keep checking back for more updates.