Goldman Tells Employees to Work at Home in Staggered Shifts
(Bloomberg) -- Goldman Sachs Group Inc. split its workforce in the Americas and the region covering Europe, the Middle East and Africa so half can work from home in staggered shifts, an attempt to limit the impact of the spreading coronavirus.
The two teams, dubbed blue and white in a nod to the colors of the firm's logo, will start taking turns next week alternating between home and office, the New York-based bank said Thursday in an internal memo.
The new measures supplement similar steps Goldman Sachs already took in the Asia-Pacific region. Employees deemed “business critical” won't participate, a person familiar with the matter said, asking not to be identified because the move hasn't been announced publicly.
JPMorgan Chase & Co. said earlier Thursday it would also implement a staggered work-from-home plan for its New York-area employees.
Read more about Wall Street work-from-home policies
New York Governor Andrew Cuomo said Wednesday he would ask businesses to voluntarily consider staggering shifts for employees and letting them telecommute to help stem the spread of the highly contagious virus.
Citigroup Inc. said this week it plans to send about half its workforce in the New York area home. Capital One Financial Corp. employees were urged to work remotely if possible, and San Francisco-based Wells Fargo & Co. told some employees on Wednesday to test their ability to work from home for a day.
--With assistance from Max Abelson.
To contact the reporter on this story: Olivia Rockeman in New York at orockeman1@bloomberg.net
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Steve Dickson, Dan Reichl
©2020 Bloomberg L.P.
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