Citigroup enforces the "no-jab, no-job" coverage efficient January 14th: Supply | Enterprise insurance – business insurance
(Reuters) – Citigroup Inc. will begin enforcing a previously announced “no-jab-no-job” policy beginning Jan. 14, making it the first major Wall Street institution to do so, according to a source familiar with the matter a strict COVID. introduces -19 vaccination order.
The move is made as the financial industry, long keen to get back to business as usual, grapples with how to safely get workers back to the office in the face of the spread of the highly contagious variant of Omicron coronavirus.
Other major Wall Street banks, including Goldman Sachs & Co., Morgan Stanley, and JPMorgan Chase & Co., are urging unvaccinated employees to work from home but have not gone so far as to quit.
While Citigroup is the first Wall Street bank to enforce a vaccine mandate, a handful of other major US corporations, including Google and United Airlines, have adopted "no-jab, no-job" policies, with varying degrees of severity.
Citigroup said in October that U.S. employees must be vaccinated as a condition of their employment, but didn't say when they would start enforcing the new policy.
The bank said at the time it was adhering to the Biden government's policy of fully vaccinating all workers who support government contracts as the government remains a "big and important" customer of Citigroup.
Citigroup will examine exceptions for religious or medical reasons or other precautions under state or local law on a case-by-case basis, the bank said at the time.
The source said the bank will begin enforcing this policy on Jan. 14, but did not provide any further details.
The US Supreme Court on Friday heard arguments about requests from Republican officials and corporate groups to block a Biden vaccine mandate for employers with more than 100 workers.
Bloomberg first reported on Citigroup's January 14 deadline on Friday. Citigroup will put workers who fail by then on unpaid leave with their last day of employment at the end of the month, the news agency reported.
More than 90% of Citigroup employees have so far complied with the mandate and this number is increasing rapidly, reported Bloomberg, citing a Citigroup spokeswoman.
Many financial firms have postponed their plans to return to the office, encouraging their employees to get vaccinated and topped up, but have so far avoided vaccine mandates for legal reasons.
“It will be a challenging and complex policy to implement. The problem with this is that there are a multitude of different laws weighing on this, ”said Chase Hattaway, partner at RumbergerKirk law firm.
"Citi will have to align its policies with state law, and in many cases cities and towns will have different regulations that may require further outsourcing," said Hattaway.
The Biden government has used regulations to require companies with 100 or more employees to require vaccinations or weekly tests from employees.
More and more US companies are adopting vaccine requirements to protect employees and operations from disruption.
United Airlines CEO Scott Kirby said last month the airline had laid off 200 of its 67,000 employees for failing to meet their mandate.
Many hospitals have fired employees for failing to meet mandates imposed on the healthcare industry in more than 20 states.
While some companies like Tyson Foods Inc. have got more than 96% of their employees to take a vaccine, construction and retail companies have resisted vaccine mandates in a very tight labor market for fear of employee opposition.