Other major Wall Street banks, including Goldman Sachs & Co., Morgan Stanley, and JPMorgan Chase & Co., have told some unvaccinated employees to work from home, but none has yet gone as far as sacking staff.
The bank said then it was complying with the policy of US President Joe Biden’s administration requiring all workers supporting government contracts to be fully vaccinated, as the government was a “large and important” client. Columbia Business School professor Adam Galinsky, who advises companies on their return-to-office strategies, said many companies initially welcomed the White House’s vaccine mandate because it took the matter out of their hands.
“This is going to be a challenging and complex policy to implement,” said Chase Hattaway, a partner at law firm RumbergerKirk, noting the bank has to navigate federal anti-discrimination and other state laws. An increasing number of US companies have been using vaccine requirements to protect employees and avoid operations being disrupted by mass staff absences.
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