Goldman Sachs, Credit Suisse, Morgan Stanley adjust return-to-office plans amid delta variant concerns
All three big banks will require their non-vaccinated staff to continue to work remotely
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Goldman Sachs, Credit Suisse and Morgan Stanley are making adjustments to their return-to-the-office plans amid growing concerns about the spread of the delta variant.
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A spokesperson for Goldman told FOX Business that the investment bank will require all individuals who enter its offices, including employees, clients and other visitors, to be fully vaccinated by Sept. 7. Any individual who is not vaccinated by the deadline will be expected to work from home.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GS | THE GOLDMAN SACHS GROUP INC. | 601.71 | -3.86 | -0.64% |
Beginning in October, proof of vaccination will need to be uploaded to Goldman's Canopy app. In addition to making COVID-19 vaccinations available through on-site health centers, the firm also offers all employees a half day of paid time off for each dose.
As of Wednesday, masks are also required for all common areas of Goldman's buildings, regardless of vaccination status, including lobbies, elevators, hallways, restrooms, fitness and wellness facilities, cafeterias and pantries, except while seated for eating and drinking. In several offices, such as San Francisco and Washington, D.C., masks are required at all times except while eating or drinking, including at the desk, based on current local public health guidance.
Goldman will also launch a mandatory once-a-week testing for fully vaccinated colleagues beginning on Sept. 7. Mandatory testing for unvaccinated or partially vaccinated colleagues will continue until Sept. 7.
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Meanwhile, Morgan Stanley's U.S.-based employees who have attested that they are fully vaccinated will be required to show proof of vaccination beginning Oct. 1 to enter the company's buildings, while those who are non-vaccinated will continue to work from home.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MS | MORGAN STANLEY | 131.03 | -0.58 | -0.44% |
The company has yet to announce an official timeline for its return to the office.
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As for Credit Suisse, the investment bank is pushing back its full return to its U.S. offices to Oct. 18, according to a memo reviewed by FOX Business.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CS | NO DATA AVAILABLE | - | - | - |
Similar to Goldman, only vaccinated staff will be able to work onsite beginning Sept. 7, while those who are unvaccinated have been asked to work remotely until they receive the vaccine or relevant guidance changes. Credit Suisse staff are advised to wear masks in office common areas, such as the lobbies, gyms, cafeterias, and elevators, but vaccinated staff may remove them once on their floor.
Those who are eligible may begin a hybrid work schedule as agreed with their group head or line manager once Credit Suisse's mid-October return to office schedule begins.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 117.16 | -0.31 | -0.26% |
| FB | NO DATA AVAILABLE | - | - | - |
| GOOGL | ALPHABET INC. | 171.49 | +2.54 | +1.50% |
| UBER | UBER TECHNOLOGIES INC. | 73.07 | +1.11 | +1.54% |
| UAL | UNITED AIRLINES HOLDINGS INC. | 97.44 | +0.61 | +0.63% |
| C | CITIGROUP INC. | 71.39 | +0.52 | +0.73% |
| MCD | MCDONALD'S CORP. | 292.44 | -1.80 | -0.61% |
| HES | HESS CORP. | 146.96 | -0.22 | -0.15% |
| CVX | CHEVRON CORP. | 162.21 | +0.28 | +0.17% |
| ICE | INTERCONTINENTAL EXCHANGE INC. | 158.29 | -2.67 | -1.66% |
The three big banks are the latest to update their COVID-19 vaccination requirements, following behind companies including Disney, Facebook, Google, Uber, Equinox Group, Tyson Foods, United Airlines, Citigroup, McDonald's, Hess, Chevron, and the New York Stock Exchange.
According to the Centers for Disease Control and Prevention, approximately 171.4 million Americans, or 62.6% of U.S. adults, are fully vaccinated against COVID-19 to date. Meanwhile, more than 202 million Americans, or 73.2% of U.S. adults, have received at least one dose of a COVID-19 vaccine.