Citigroup will fire any U.S. employee not vaccinated against Covid-19 by the end of the week, including those in the firm’s wealth management business, according to news reports.
The company told staff last week that it will place any employee not vaccinated by January 14 on unpaid leave until the end of the month, FA-IQ sister publication Ignites writes, citing a confirmation from a Citigroup spokesperson. And those employees will be fired by the end of January, according to Ignites.
The spokesperson confirmed to the publication that the move affects employees in Citigroup’s institutional units, which includes the wealth management business. The spokesperson declined comment, however, on how many will be affected, according to Ignites.
The company has around 65,000 employees in the U.S., and more than 90% of them have been vaccinated, the publication writes, citing the spokesperson.
Fired staff will be able to reapply for work with Citigroup once they get vaccinated, Ignites writes, citing Bloomberg, which first reported the news.
Citigroup began mandating vaccines for all U.S. employees in October, as reported.
At the time, the firm planned to review exemption requests for “religious, medical or any other accommodation required by state or local law on a case by case basis,” wrote Sara Wechter, Citi’s global head of human resources, in a LinkedIn post in October, according to Ignites.
Citigroup’s current stance is more drastic than its main competitors’.
JPMorgan began enforcing a vaccine mandate in December, as reported. But the company allowed unvaccinated workers to return to the office as long as they get tested twice a week.
Earlier this month, meanwhile, JPMorgan and Goldman Sachs told all staff to stay home in the wake of the rise of the omicron strain in the U.S. In December, meanwhile, Morgan Stanley told New York-area staff to stay home until after the New Year, while Wells Fargo pushed back its January 10 return date indefinitely.
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