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Factbox-U.S. financial firms tighten COVID-19 precautions as Omicron spreads -Breaking

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© Reuters. FILE PHOTO: Wall Street street sign is visible outside New York Stock Exchange (NYSE), New York City, New York. It was taken on January 3, 2019, by Shannon Stapleton. REUTERS/Shannon Stapleton/File Photo

(Reuters) -The U.S. financial industry has been proactive in encouraging workers back to work than any other sector, however these plans are now under scrutiny after the spread of Omicron coronavirus.

Major U.S. banks still have staff in their offices from the summer. However, some bank branches are no longer hosting holiday parties. Others strongly recommend staff get booster shots.

These are pandemic-related rules that Wall Street’s largest banks and financial institutions have adopted.

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Bank of America Corp (NYSE 🙂

A source familiar with the matter said that the bank encouraged employees to work remotely starting in January. The bank will offer on-site vaccination booster clinics to its employees across the nation.

Bank has been encouraging its employees since the end of summer to become fully vaccinated, and to receive their booster shots when they’re eligible. There are several clinics available at the bank.

Citigroup Inc (NYSE:)

Citigroup will implement a no-jab policy that prohibits employees from working starting January 14, according to a source. While the bank said that in October, it would mandate vaccinations for U.S. workers, it has yet to require boosters.

Citi also offers rapid testing kits to encourage employees who come into the office, according to a source.

According to Reuters, employees have been requested to work at home for the first week of 2022.

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:)

Goldman Sachs will encourage its U.S.-eligible staff to work from their home up until Jan. 18, according to a spokesperson.

Their offices will remain open as previously announced COVID-19 safety protocol – an injection requirement, booster for all eligible population effective February 1, biweekly testing effective January 10, and mandatory masks.

In August, infections erupted due to the Delta variant spreading. The Wall Street Bank mandated vaccinations for its staff and visitors who entered its American offices.

According to a source, Goldman delayed its holiday parties in New York in December due to COVID-19 fears.

Jefferies

According to Richard Handler, chief executive officer of the investment bank, Richard Handler posted an Instagram post requesting that staff work remotely from January 31.

Bank requires that all employees who wish to work in its offices are vaccinated against COVID-19. It has also stated it would require boosters before January 31st, unless the concerned person is not eligible. Jefferies does not perform onsite testing.

All travel other than essential has been canceled by the bank.

JPMorgan Chase & Co (NYSE:)

According to Reuters, JPMorgan offered employees the opportunity to work from home the first two weeks in 2022. However, all employees must return to the office by February 1, according to a memo.

In August, the largest U.S. bank mandated that all employees wear face covers in public settings. This was in addition to their vaccination status.

Oct. was the month when the lender announced that they would not allow employees to travel on business if they aren’t vaccinated. Employees in this category are required to be tested two times per week. They also have to pay more towards their medical insurance. The law also required vaccines to be given to new hires who work with clients.

JPMorgan allowed Manhattan-based unvaccinated workers to work from their homes 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 often to determine “who should be allowed to return home”

Morgan Stanley (NYSE:)

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

Staff who do not need to travel to the bank’s offices are expected to make use of their ability to work at home, and be able to spend more quality time with family members. According to a source, the bank does not send its staff home.

Wells Fargo (NYSE:) & Co

The lender recently delayed plans to allow employees to return home “due to changing environmental conditions.” According to the lender, it announced new plans for an employee’s full return within the next year.

Wells Fargo said that its offices were open to anyone who has been immunized and wishes to make use of them. If eligible, the bank will pay four hours’ paid vacation to employees who wish to have their booster shots.

Employees are also required to show proof of being fully vaccinated and get regularly tested by the bank.

Fidelity Investments

According to the company, it has halted voluntary returns-to-office plans for New England due to a growing risk of COVID-19 pandemic.

American Express Co (NYSE 🙂

Company has delayed the launch of “Amex Flex (NASDAQ :)”,) in the United States, which had been scheduled for January 24, to extend its hybrid work plans.

BlackRock Inc (NYSE:)

According to an insider, the asset manager will provide flexibility until Jan. 28, allowing U.S. workers to work wherever is most convenient.

Sources: Statements of company, memos, and sources

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