JPMorgan Chase & Co. announced unvaccinated New York employees that they will have to work from home starting Tuesday.
The bank had previously allowed unvaccinated employees to work in its Manhattan offices when they were tested twice a week. It had already restricted their options for traveling and attending meetings, either internally or with clients. And it had said that they would cover some of the cost by paying higher healthcare costs in 2022.
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“We also agree with the health authorities that vaccination against Covid-19 is the best way to protect ourselves and our loved ones – especially in light of the winter months and a new variant,” said the bank’s Return to the Office task force in a memo to unvaccinated employees on Monday evening.
New York Governor Kathy Hochul said Friday that New Yorkers must wear masks in indoor public spaces unless those places require vaccination against Covid-19. This requirement went into effect on Monday.
On Tuesday, JPMorgan began requiring proof of vaccination for all employees and visitors to enter its New York office buildings, a move other banks had previously taken.
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The homework order is considered temporary and the bank is considering possible other solutions to deal with the state order.
JPMorgan also relaxed the mask requirement for vaccinated employees in the New York corporate offices.
“It seems unfair to demand that our vaccinated employees wear masks at their desks all day,” the bank said. According to the memo, more than 90% of Manhattan-based JPMorgan employees are vaccinated.
| ticker | safety | Last | change | Change% |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 156.79 | -3.61 | -2.25% |
The memo was previously reported by Reuters.
JPMorgan, the largest bank in the US, has taken a relatively tough approach to restricting home work, telling many workers this summer that they would have to return to the office. Chief Executive Jamie Dimon has said that working remotely doesn’t make sense for customers or employees.
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The Omicron variant has messed up the picture for many companies. In the past few days, companies as diverse as Facebook parent Meta Platforms Inc., Ford Motor Co. and alphabet Inc.’s Google has postponed the return to the office or given employees the option to stay home longer.
Write to David Benoit at [email protected]
