Daily Management Review

Wall Street companies to delay return to offices


Wall Street companies have been forced to reconsider plans to return to the office amid the spread of the omicron, Reuters learned. The financial industry has been aggressively pushing for a switch to a familiar working model, but a new strain of the coronavirus has forced banks and investment firms to postpone taking employees offsite.

Wall Street banks and investment firms have scrapped plans to return to the office amid the spread of a new strain of COVID-19, omicron, Reuters writes.

Citigroup and Bank of America advised employees in New York to work remotely if possible; plans to return to offices from January 10 were also postponed by Wells Fargo. Jefferies Financial Group, which was one of the first companies to send employees to work remotely, has postponed its return from telecommuting until Jan. 17.

The financial industry has been one of the sectors most aggressively pushing for a return to the familiar working model. Goldman Sachs, JPMorgan and Morgan Stanley all said they were keen to resume work from their offices after the vaccination programme was rolled out, Reuters notes. Goldman and JPMorgan have returned most employees to their offices since the summer, the agency specifies. In addition, Goldman Sachs became the first Wall Street bank to require proof of vaccination not only from employees but also from customers.

source: reuters.com