Nearly all of Citigroup’s workers have complied with a companywide vaccine requirement forward of a key Friday deadline.
The huge financial institution reached a 99 p.c compliance charge amongst US staffers previous to the deadline, in accordance Sara Wechter, Citigroup’s head of human assets. Citi workers had been instructed to supply proof of vaccination or exemption by Jan. 14 — or face termination.
“This level of compliance helps us create a safer workplace, protect your families and our communities, and ensure continuity of our business operations,” Wechter said in a LinkedIn post.
Citigroup issued a companywide memo final week warning staffers of the jab-or-walk deadline, the Post beforehand reported. The coverage is among the most stringent on Wall Street, although the financial institution is contemplating exemptions on non secular or medical grounds and state-level lodging on a case-by-case foundation.
Citigroup’s head of human assets Sara Wechter mentioned the corporate reached 99 p.c compliance with the COVID vaccine mandate. NurPhoto by way of Getty Images
Workers who didn’t provide proof of vaccination or safe an exemption by Friday will likely be positioned on unpaid go away and fired on the finish of the month, the memo mentioned.
Citi first established a vaccination requirement final October, although it was not initially clear if staff who didn’t comply could be fired. At the time, Citi pointed to the Biden administration’s necessities for federal contractors to mandate vaccinations, noting the federal government was a “large and important” consumer.
In its memo, Citi mentioned some workers who didn’t meet the vaccine necessities may nonetheless be eligible for year-end bonuses — in the event that they agreed to not pursue authorized motion to acquire the payouts.
Wechter mentioned Citi expects its compliance charge to tick even increased forward of the deadline.
“Going into the last day, we expect the number of employees who have not complied will decrease even further,” she added. “Our goal has always been to keep everyone at Citi, and we sincerely hope all of our colleagues take action to comply.”
Citi maintained the requirement regardless of the Supreme Court’s choice to strike down President Biden’s vaccine mandate for big firms with 100 or extra workers.
Citigroup workers who didn’t present proof of vaccination or get an exemption by the deadline will likely be positioned on unpaid go away after which be terminated at month’s finish. Shutterstock / Viacheslav Lopati
Banks are once more rethinking their return-to-office plans because the Omicron variant drives a surge in new COVID-19 infections. Earlier this week, Goldman Sachs delayed its return plans by two weeks.
Citi additionally reported fourth-quarter earnings on Friday. The financial institution’s shares had been decrease in early buying and selling after reporting that web earnings declined dropped 26 p.c to $3.2 billion.