JPMorgan and Citi employees to start 2022 with remote working as Covid-19 cases increase

NEW YORK (BLOOMBERG) – JPMorgan Chase & Co, one of Wall Street’s strongest advocates of the return to Manhattan skyscrapers, is offering employees the opportunity to work from home in the first weeks of 2022, and Citigroup is encouraging staff to connect remotely, as more financial firms grapple with the latest wave of Covid-19 infections.

“We are not changing our long-term office work plans,” JPMorgan told staff in a note Thursday (Dec. 30). “However, with the increase in vacation travel and gatherings, we are allowing more flexibility during the first two weeks of January to work from home (if your role permits) at the discretion of your manager.”

Employees are expected to return to work schedules by Feb. 1, JPMorgan said.

Citigroup was already among other major U.S. banks that have relaxed their workplace policies in recent weeks, urging staff in the New York metro area to work remotely during the holidays.

Now, “we ask that you work from home during the first few weeks of the New Year if you are able to do so,” the bank wrote in a note to employees on Thursday. “We will continue to monitor the data and provide an update in January on when we expect to be back in the office.”

The New York City area has been hit hard by the increase in infections this winter, raising concerns about what will happen in office towers and schools after families return from gatherings or vacations in the coming days. . This has forced a number of banks to revise their staffing strategies in recent weeks, most of them relaxing mandates to visit buildings.

Jefferies Financial Group asked staff earlier this month to work remotely and get a vaccine booster by the end of January. Morgan Stanley has told employees who have to be in the office for the first two weeks of January to limit large in-person meetings and wear face covers when not at their desks.

And earlier this week, the Goldman Sachs group – which like JPMorgan had demanded that U.S. employees return to their offices in mid-2021 – told staff it would impose booster vaccinations and double tests, even if he stuck to his office work. plans.

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