Goldman, Morgan Stanley, & JPMorgan Once Again Tighten In-Office COVID Safeguards

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by Tyler Durden
Friday, Aug 20, 2021 - 09:45 AM

Here we go again...

It was no sooner than big banks were returning to the office, exhaling a sigh of relief that the pandemic may have finally been under control due to vaccines, that everyone is being forced to "mask up" once again.

Both Morgan Stanley and Goldman Sachs are in the midst of implementing "more stringent" Covid precautions as workers head back to the office, a new report from Bloomberg says.

Goldman was the first bank to have employees return to the office and is considering "asking staff to wear masks inside offices and stepping up testing to spot infections before they can spread", according to the report.

Morgan Stanley is implementing safeguards of its own, telling its staff they must provide proof of vaccinations to enter their buildings. MS was one of the first, back in June, to require the jab for employees. It enforced it on "the honor system". 

The purpose of the new measures is to “provide greater comfort for those working in the office,” a MS rep told Bloomberg. 

Goldman's HQ in London

In London, the changes aren't so drastic because firms like JP Morgan and Goldman left their restrictions in place, even as the government loosened their restrictions. 

Goldman's office in London requires "the wearing of masks at all times, apart from when seated at your desk, social distancing, and participation in the on-site testing program."

JP Morgan is still requiring face covering in all buildings and common areas.

Despite the rise in restrictions, Morgan Stanely CEO James Gorman has said he expects people to be back in the office by Labor Day. “In the coming weeks, we will continue to evaluate the best and safest way to get the majority of our employees working in the office, recognizing that this step may take longer than we originally anticipated,” a bank spokesperson concluded.