US financial firms tighten Covid-19 precautions

US financial firms have been more proactive than other industries in encouraging employees back to the office, but those plans have come under renewed scrutiny due to the rapid spread of the Omicron coronavirus variant.

Most major US banks have had staff working in offices since the summer, but some are now choosing not to host holiday parties and others are strongly recommending staff to get booster shots. The following are the pandemic-related rules among Wall Street's biggest banks and financial firms.

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Bank of America Corp

The bank is encouraging employees to work remotely in the first week of January, according to a person familiar with the matter. It will host on-site vaccine booster clinics for its staff across the country. Since late summer, the bank has also been encouraging employees to get fully vaccinated and more recently to get their booster shots when eligible. It offers onsite clinics in several locations.

Citigroup Inc

Citigroup has asked staffers to work from home during the first few weeks of 2022, a person familiar with the matter told Reuters.

On December 15, the bank told employees at its New York City office they could work from home if they were able to through the holidays, a source with knowledge of the matter told Reuters.

The bank has been requiring employees in the United States to be vaccinated but is not mandating boosters. It is providing rapid test kits and encouraging testing for employees going into the office, a source said earlier.

Deutsche Bank

The German lender has made Covid-19 boosters available to staff at its new midtown headquarters in New York City since early November, according to a source familiar with the matter.

Goldman Sachs Group Inc

Goldman Sachs is encouraging its eligible US staff to work from home until January 18, a spokesperson for the bank said.

Its offices will continue to remain open with previously announced Covid-19 safety protocols - a vaccine requirement, booster for all eligible populations effective February 1, bi-weekly testing effective January 10 and mandatory masks.