Goldman Sachs Group Inc., one of Wall Street’s fiercest champions of returning its staff to offices, is asking U.S. 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 Inc., adopted a more cautious stance as the omicron variant spreads rapidly across the U.S., 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 Sunday 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. On Dec. 27, Goldman told its U.S. workforce that anyone entering its offices must get a booster by Feb. 1 if they’re eligible for the injections by that date.
A Goldman spokeswoman didn’t immediately respond to a request for comment.
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 coming days. That’s forced some banks to revise staffing strategies in recent weeks, with a number of them easing off mandates to commute to offices.
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 employee to work from home for the first few weeks of the new year if they’re able to do so. Bank of America Corp. is urging employees to work from home this week.
Jefferies Financial Group Inc. asked staff last month to work remotely and get a vaccine booster by the end of January. In December, CEO Rich Handler self-quarantined after testing positive for Covid-19 himself.
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Employee accounts, crypto trials and job cuts frame a pivotal year for the Swiss lender.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
