Finance

Goldman Sachs offers time off for Covid-19 jabs as banks eye office return

Goldman Sachs is offering its employees time off for a Covid-19 vaccine as large investment banks increase their efforts to reopen their offices to staff after a year of working from home.

The US investment bank has said that its some 41,000 employees are entitled to half a day paid leave in order to receive a vaccination, according to a memo sent on 17 March seen by Financial News.

“Vaccination is an important tool to help contain the Covid-19 pandemic, and as a firm, we strongly support public health efforts to promote broad vaccination of the population,” the note said.

Goldman Sachs follows JPMorgan in offering staff time off for vaccinations, which said that its UK staff can take an additional “personal day” to receive a Covid-19 jab. JPMorgan will start to increase UK staff numbers from 29 March as the government starts to lift lockdown restrictions.

READ When City bankers at JPMorgan, Goldman and Credit Suisse will head back to the office

Vaccination is a key tool for life returning to normal after the Covid-19 pandemic, and both UK and US governments have set targets for ensuring most of the population receives the jab by the summer.

Goldman Sachs chief executive, David Solomon, told employees last week that vaccinations could mean staff return to the office by summer.

“We understand that until more of us are vaccinated that is going to be a challenge. But based on the current pace of vaccinations, and where we hope to be by the summer, we believe that we are well-positioned and there is a good chance that we can meet that goal,” he said during a townhall meeting on 11 March.

READ JPMorgan interns will come into the office this summer as lockdowns ease

Like many banking executives, Solomon wants more staff to return. He told a conference last month that working from home was an “aberration” that the bank would look to correct, particularly for junior employees.

Both JPMorgan and Goldman Sachs are expecting summer interns to come into the office in London and New York, Financial News revealed. Last year, all banks shifted their programmes online as the pandemic hit, but in-person mentoring is seen as key for junior staff.

To contact the author of this story with feedback or news, email Paul Clarke

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