Financial basis

Citigroup to apply “no jab, no job” policy from January 14 – source

The Citigroup Inc (Citi) in Toronto, Ontario, Canada on October 19, 2017. Photo taken on October 19, 2017. REUTERS / Chris Helgren / File Photo

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Jan. 7 (Reuters) – Citigroup Inc (CN) will begin enforcing a previously announced “no jab, no job” policy from Jan. 14, according to a source familiar with the matter, making it Wall’s first major institution Street to implement a strict COVID-19 vaccination mandate.

The move comes as the financial industry, which has long been keen to resume operations as usual, is grappling with how to get workers back to the office safely amid the spread of the highly infectious variant of the Omicron coronavirus.

Other major Wall Street banks, including Goldman Sachs & Co (GS.N), Morgan Stanley (MS.N), and JPMorgan Chase & Co (JPM.N), require unvaccinated staff to work from home, but don’t have not yet left until terminating their employment.

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While Citigroup is the first bank on Wall Street to apply a vaccination warrant, a handful of other major US companies have introduced “no jab, no work” policies, including Google and United Airlines, to varying degrees. of rigor.

Citigroup said in October it would require U.S. employees to be vaccinated as a condition of their employment, but did not say when it would start enforcing the new policy.

The bank said at the time that it was following the policy of Democratic President Joe Biden’s administration requiring all workers supporting government contracts to be fully immunized, as the government remains an “important and important” customer of Citi.

Citigroup will assess exemptions for religious or medical reasons, or any other accommodation by national or local law, on a case-by-case basis, the bank said at the time.

The source said the bank will start enforcing the policy from January 14, but did not provide more details.

The U.S. Supreme Court heard arguments on Friday regarding demands from representatives of the Republican state and business groups to block a Biden vaccine mandate for employers with more than 100 workers.

Bloomberg first announced Citigroup’s Jan. 14 deadline on Friday. Citigroup will place workers who do not comply by then on unpaid leave, with their last day of work at the end of the month, the outlet reported.

More than 90% of Citigroup staff have so far complied with the mandate and that number is growing rapidly, Bloomberg reported, citing a Citigroup spokesperson.

Many financial companies have pushed back plans to return to the office and encourage staff to get vaccinated and boosted, but have so far avoided vaccination warrants for legal reasons.

“This is going to be a difficult and complex policy to implement. The problem here is that there are a variety of different laws that weigh in on this, ”said Chase Hattaway, partner at RumbergerKirk law firm, noting both federal and anti-discrimination laws as well as a patchwork of rules. of state.

“Citi will need to adapt its policy to state law, and in many cases cities and municipalities will have different regulations as well, which may require even larger exemptions,” Hattaway said.


The Biden administration has used regulations to require companies with at least 100 employees to require vaccinations or weekly tests for their employees.

A growing number of US companies have used vaccine requirements to protect staff and operations from disruption.

United Airlines chief executive Scott Kirby said last month the carrier had laid off 200 of its 67,000 employees for failing to meet its mandate.

Many hospitals have fired staff for failing to follow mandates, which have been imposed on the health sector in more than 20 states.

While some companies such as Tyson Foods Inc (TSN.N) have got over 96% of their employees to take a vaccine, those in construction and retail have resisted vaccination mandates for fear of resistance from the vaccine. staff in a very tight labor market.

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Reporting by Niket Nishant in Bengaluru and David Henry in New York; Additional reports by Tom Hals; Written by Michelle Price; Editing by Amy Caren Daniel, Nick Zieminski and Jonathan Oatis

Our Standards: Thomson Reuters Trust Principles.