New York (CNN Business)Citigroup is the latest big bank to mandate vaccines for employees returning to the office as the Delta variant of Covid-19 surges.
Starting September 13, employees working in the bank’s New York headquarters as well as other offices in the New York metropolitan area, Chicago, Boston, Washington and Philadelphia, will need to be vaccinated and are expected in the office at least twice a week. For employees working at other branches, Citi (CPRJ) is strongly encouraging, but not requiring, vaccination. Those employees are required to wear masks and participate in company-provided rapid testing regardless of vaccination status. The bank said it is monitoring data but will not be bringing more employees back to any other corporate offices yet.
Unlike other Wall Street banks, Citi’s executives have been accepting of hybrid work. In March, the company recognized that hybrid work had been beneficial for some employees and promised to embrace flexibility when returning to the office.
Joining the trend
Read MoreThe decision to mandate vaccinations adds Citi to a growing list of companies mandating vaccines for employees, and in some cases, customers.Morgan Stanley (AANXX) in June banned all unvaccinated staff, clients and guests from its New York office. All employees who work in buildings with a “large employee presence” were required to confirm their vaccination status by July 1, according to a company memo to employees. Jefferies (JEF) made a similar move, allowing only vaccinated vaccinated employees into the office, according to a memo the company’s CEO and president sent to employees. Workers not fully vaccinated by Labor Day “should continue to work from home,” the memo said.Other companies mandating vaccines for corporate employees include Google (GOOG), Facebook (FB), Blackrock (BAAPX), Walmart (WMT) and Disney (DIS).
Aside from just businesses, New York City is requiring proof of vaccination to enter restaurants, fitness centers and indoor entertainment, Mayor Bill DeBlasio announced August 3. “If you’re unvaccinated, unfortunately, you will not be able to participate in many things,” de Blasio said. “If you want to participate in our society fully, you’ve got to get vaccinated.”
Source: edition.cnn.com
