Citigroup tightens mandate on vaccines, lays off non-vaccinators – Financial News Economic News


Citigroup strengthens mandate for vaccines, will lay off non-vaccinators. image file

Citigroup, one of the world’s largest financial services companies, has told its employees that it will lay off those who were not vaccinated against COVID-19 before January 14, according to press reports.

The New York-based financial institution reminded its employees in a note sent Friday of its policy, which was first made public. in October, which must be “fully vaccinated as a condition of employment by January 14”. The policy only applies to employees in the United States.

Workers who do not comply with the company’s decision to vaccinate on that day will be given unpaid leave and fired at the end of the month, according to the company’s letter to employees, first reported by the agency. Bloomberg.

The financial firm headed by CEO Jane Fraser said it made the decision because, as a government contractor, it needed to comply with President Joseph R. Biden’s executive order on vaccines. In addition, he said, implementing the authorization will help ensure the safety of employees returning to office work.

More than 90% of Citi employees are sticking to the vaccine mandate, and that number is growing as the deadline approaches, according to a person familiar with the matter who spoke to US TV. CNBC.

Citigroup, the third largest bank in the United States by assets, has the most aggressive vaccination policy among its competitors, such as JP Morgan Chase and Goldman Sachs, who have so far not considered the possibility of firing their employees. .

Due to the greater prevalence of the covid-19 variant, omicron, many organizations required their employees to work remotely in the first weeks of January.

For example, JP Morgan Chase & Co. offered its employees the option to work from home in the first two weeks of 2022, provided that all employees return to the office no later than February 1.

Before that, JP Morgan instructed unvaccinated employees to work from home, while relaxing mask requirements for vaccinated employees working in its Manhattan offices.

For its part, Citigroup also asked its employees to work from home during the first weeks of 2022.

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