11.7 C
New York

Goldman Sachs lifts COVID protocols, urges employees back to office


Wall Street giant Goldman Sachs will lift all COVID protocols which have kept some employees away because it pushes all employees to return to the office five days every week after Labor Day, The Post has learned.

In a memo sent Tuesday obtained by The Post, Goldman Sachs told employees it’ll not require vaccines, COVID testing or masks — a signal it won’t accept excuses for workers who claimed COVID as a reason for working from home.

“There may be significantly less risk of severe illness,” the memo stated. “Consistent with [the CDC’s] updated protocols, if you have got not been coming in to the office, please speak along with your manager to be certain that you understand and cling to your division’s current return to office expectations.”

The official memo comes just days before the bank expects all employees to return to its offices five days every week, sources add.

“That is one other way of Goldman Sachs saying, ‘School’s in session and we would like you in person’ after Labor Day,” Wells Fargo bank analyst Mike Mayo told The Post. “Goldman is the last word customer-facing firm and it’s tough to face customers remotely.”

Wells Fargo analyst Mike Mayo says that is Goldman’s way of claiming “School’s in session.”James Messerschmidt

Goldman is one in every of the primary major corporations to send a firm-wide email essentially declaring the danger of catching COVID shouldn’t be used as an excuse to do business from home.

“We proceed to make regular progress bringing our people together within the office, which is core to Goldman Sachs apprenticeship culture and client-centric business,” a spokeswoman for Goldman Sachs told The Post on Tuesday.

The memo states Goldman will roll back its massive testing program and plans to finish offering test kits companywide by the top of the 12 months. The bank will reimburse COVID tests covered by insurance and can proceed contact tracing and notify employees who’ve come into contact with an infected person. But in keeping with CDC guidance, that person is not going to be required to quarantine.

David Solomon Goldman CEO David Solomon has called do business from home “an aberration.”Getty Images for Vox Media

Employees on the firm’s Latest York City headquarters at 200 West Street will still be required to abide by the town mandate, which requires employees to either be vaccinated or have received a health or religious exemption to enter a constructing.

Goldman Sachs desires to be the leader in terms of returning to the office full-time, an individual near the bank told The Post.

“They’ve brought people back to the office and are miles ahead of peers,” the source said, referencing Goldman’s competitors uptown, including Morgan Stanley and JPMorgan, which have allowed hybrid schedules.

This isn’t the primary time Solomon has made headlines for emphasizing the vital of working from the office. Last 12 months at Credit Suisse’s annual virtual financial services forum, Solomon said do business from home was “an aberration that we’re going to correct as quickly as possible” and “not a recent normal” for workers on the white-shoe firm.

Goldman SachsGoldman Sachs expects employees in five days every week, sources told The Post.Bloomberg via Getty Images

Last summer, the bank demanded employees return full-time — though the Omicron variant that spread like wildfire last winter upended those efforts.

But after greater than two years, the bank isn’t accepting any more excuses.

“Persons are in the vast majority of the week, but there might be a push post-Labor Day for people to be in full-time — back to business as usual,” the source said.

Get the latest Sports Updates (Soccer, NBA, NFL, Hockey, Racing, etc.) and Breaking News From the United States, United Kingdom, and all around the world.

Related articles


Recent articles