Goldman backtracks on return to office as Omicron surges in US
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Goldman's reversal comes after most of its major peers adopted a more cautious stance.
PHOTO: REUTERS
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NEW YORK (BLOOMBERG) - Goldman Sachs Group, one of Wall Street's fiercest champions of returning its staff to offices, is asking US employees to work from home if they can until Jan 18 as Covid-19 surges nationwide.
Goldman's reversal comes after most of its major peers, including JPMorgan Chase & Co and Citigroup, adopted a more cautious stance as the Omicron variant spreads rapidly across the US, encouraging staff to resume work in the new year from their homes.
"As we continue to monitor the trajectory of this spike, we now encourage those who can work effectively from home to do so," the bank said on Sunday (Jan 2) in a memo to employees.
As recently as last week, Goldman was doubling down on its return-to-office plan by making vaccination booster shots compulsory. Anyone entering its offices must get a booster by Feb 1 if they are eligible for the injections by that date, Goldman told its US workforce on Dec 27.
A Goldman spokesman did not immediately respond to a request for comment.
Holiday spread
The New York region has been hit hard by this winter's jump in infections, raising concerns about what will happen at office towers and in schools as families return from gatherings or vacations in the coming days. That has forced some banks to revise staffing strategies in recent weeks, with a number of them easing off mandates to commute to buildings.
JPMorgan is offering employees the option of working from home in the opening weeks of this year, the bank told staff in a memo on Thursday. Employees there are expected to resume their in-office schedules by Feb 1.
Citigroup asked employees to work from home for the first few weeks of the new year if they are able to do so. Bank of America is urging employees to work from home this week.
Jefferies Financial Group asked staff in December to work remotely and get a vaccine booster by the end of January. Chief executive Rich Handler self-quarantined in December after testing positive for Covid-19 himself.
