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

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© Reuters. FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar

(Reuters] – The U.S. banking industry has been proactive in encouraging their employees to return to the office than most other industries, however these plans are now under fire due to rapid spreading of Omicron coronavirus variant.

Major U.S. banks still have staff in their offices from the summer. However, some of them are choosing to not host holiday parties while others strongly recommend staff get 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:

According to someone familiar with the situation, the bank encourages employees to work remotely during the first week in January. The bank will offer on-site vaccination booster clinics to its employees across the nation.

The bank encourages employees to be fully vaccinated since late summer and, more recently, to have their booster shots if they are eligible. The bank offers clinics at several locations.

Citigroup Inc (NYSE:)

Citigroup asked its staff to work remotely for the first weeks of 2022. A person who is familiar with this matter informed Reuters.

A source who was familiar with the situation told Reuters that on December 15, the bank advised employees in New York City of its New York City branch that they can work from home if necessary during holidays.

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:)

Goldman Sachs will encourage its U.S.-eligible staff to work remotely from January 18th, according to a spokesperson.

The offices of the COVID-19 Safety Protocols will remain open. They include a mandatory vaccine, booster for all populations effective February 1, biweekly testing effective January 10, and mandatory masks.

Due to an outbreak of the Delta variant in August, Wall Street Bank ordered that all employees and visitors entered the United States with a vaccination.

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

Jefferies

Richard Handler (chief executive officer), posted on Instagram that the bank had asked its staff to work remotely through January 31, according to an announcement.

All bank employees must be immunized against COVID-19 before they can enter their offices. The bank has stated that boosters will be required by January 31, except where the individual concerned isn’t eligible. Jefferies does not perform onsite testing.

It has also cancelled all travel except for essential.

JPMorgan Chase & Co (NYSE:)

JPMorgan offers its employees the possibility of working remotely for the first 2 weeks of 2022. The caveat is that no employee will be allowed to return to work after February 1st, according to Reuters 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.

In October, the lender stated that employees not vaccinated and/or who have not reported their status would be restricted 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. It also advised managers to evaluate their employees more frequently “who should return to work from 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.

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. A source who is familiar with the matter said that it does not send staff home or have a policy regarding work-from-home.

Wells Fargo (NYSE:) & Co

Lender delayed last month’s plans for workers to return to work “due to changes in the external environment.” The lender stated that it will announce plans to complete the return of employees in the New Year.

Wells Fargo stated that all employees who are vaccinated can use its office. All employees will be granted four hours paid time off to receive the booster shot if they are eligible.

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.

Sources: Statements of company, memos, and sources

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