(Reuters) – Citigroup Inc. will start implementing a previously announced "no-jab, no job" policy from January 14, according to a source familiar with the matter, making it the first major Wall Street Institution to implement a strict covid-19 vaccine mandate.
The proposal comes when the financial industry, which has long been keen to return to business as usual, struggles to safely return workers to my office
Other major Wall Street banks, including Goldman Sachs & Co., Morgan Stanley and JPMorgan Chase & Co., tell unvaccinated staff to work from home, but have not yet done so. far as resigning.
While Citigroup is the first Wall Street bank to maintain a vaccine mandate, a handful of other major U.S. companies have implemented "no-jab, no-job" policies, including Google and United Airlines, with varying degrees of rigor. [1
The bank then said it followed the Biden administration's policy of requiring all workers to support government contracts to be fully vaccinated, as the government remains a "large and important" client of Citigroup.
Citigroup will assess exemptions on religious or medical grounds , or other accommodation under state or local law, on a case-by-case basis.
The source said that the bank would start applying that policy from January 14, but left no further details.
The US Supreme Court on Friday heard arguments over requests from Republican governments. officials and business groups to block a Biden vaccine mandate for employers with more than 100 workers.
Bloomberg first reported Citigroup's deadline of January 14 on Friday. Citigroup will place non-compliant workers on unpaid leave, with its last day of employment at the end of the month, the news agency reported. to a Citigroup spokesman.
Many financial companies have postponed their return to office plans and are encouraging staff to get vaccinated and boosted but have so far avoided vaccination mandates for legal reasons.
“This will be a challenging and complex policy to implement. The problem here is that there are a variety of laws that weigh into this, says Chase Hattaway, a partner at the law firm RumbergerKirk.
"Citi will need to tailor its policy to state law and in many cases cities. And municipalities will also have different rules, which may require even more dropouts," said Hattaway.
The Biden administration has used rules to require that companies with at least 100 employees require vaccination or weekly testing of employees.  An increasing number of US companies have used vaccine requirements to protect personnel and operations from disruption.
United Airlines CEO Scott Kirby said last month that the airline fired 200 of its 67,000 employees for failing to comply with their mandate.
] Many hospitals have laid off staff for non-compliance, which has been imposed on the healthcare industry in more than 20 states.
While some companies such as Tyson Foods Inc. have received more than 96% of their employees to take a vaccine, those in the construction and retail trade have resisted the vaccine mandate due to fear of staff resistance in the midst of a very tight work environment arknad.