AmEx Postpones Return to U.S. Offices as Omicron Variant Spreads

(Bloomberg) -- American Express Co. postponed its return to U.S. offices amid a surge in Covid-19 cases linked to the highly contagious omicron variant.

The New York-based credit-card giant will give employees two weeks' notice before it starts bringing a larger number of staffers back to its offices. The firm had previously said it intended to start bringing back employees beginning Jan. 24.

“We have seen an exponential increase in the spread of the omicron variant across the world,” Chief Executive Officer Steve Squeri said in a memo Tuesday. Due to the surge, “we have decided to delay the launch of AmEx Flex in the U.S. until we feel comfortable bringing a large number of colleagues back together in the office.”

AmEx has long said that even after it returns a larger number of employees to its offices, the vast majority of its staffers will split their time between office and remote work. The company is also requiring all employees to be fully vaccinated against Covid-19 before they can work from its U.S. offices.

The easily transmittable omicron variant has once again derailed financial firms' plans to restock office towers in Manhattan and beyond. AmEx's move comes after many banks told staffers they could work from home for the first few weeks of the year.

AmEx is offering employees 12 hours of additional paid time off to get their vaccines -- eight hours for their initial vaccine series and four for a booster shot, Squeri said in the memo.

“Recent data about the omicron variant shows higher levels of protection for those who have received both initial vaccines and booster shots,” he wrote. “Therefore, if you have not already done so, we strongly encourage you to get your vaccines and booster shots as soon as possible.”