JPMorgan Chase’s Jamie Dimon says financial institution will not pay its unvaccinated employees

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JPMorgan Chase chief government Jamie Dimon, who has been a staunch advocate for in-person work all through the COVID-19 pandemic, this week threatened to dismiss New York-based staff who will not be vaccinated.

Dimon on Monday advised CNBC that beneath the corporate’s vaccine mandate for its New York City headquarters, unvaccinated employees can’t enter its places of work — and haven’t got the choice to stay unvaccinated and earn a living from home. 

“To go to the office you have to be vaxxed and if you aren’t going to get vaxxed you won’t be able to work in that office,” Dimon mentioned Monday. “And we’re not going to pay you not to work in the office.”

Dimon has lengthy argued that distant work would not work within the long-term for pushed younger individuals specifically, who he mentioned profit from every day mentorship from extra senior colleagues. “It accelerated a trend,” he beforehand mentioned of distant work wants brought on by pandemic shutdowns, “but it does not work for younger people. It doesn’t work for those who want to hustle, it doesn’t work in terms of spontaneous idea generation.” 

“We believe that going to work is a good thing, that people deal with each other [in-person] for innovation and creativity,” he advised CNBC.

JPMorgan — the most important financial institution within the U.S. — doesn’t have a blanket coverage concerning vaccines, given differing legal guidelines throughout the nation.

“We’re not trying to be consistent because as you pointed out, there are different laws and different requirements and cities and states and schools and so here we’re adjusting locally,” Dimon mentioned. 

But 97% of staffers based mostly out of the corporate’s predominant headquarters in Manhattan are vaccinated, in keeping with Dimon. 

His remarks come after Citigroup, the fourth-largest financial institution within the U.S., on Monday took a hardline strategy to vaccines. The financial institution is demanding that employees get their jabs by the top of this week or threat dropping their jobs beneath the corporate’s vaccination guidelines. Employees with qualifying non secular beliefs or medical circumstances will probably be exempt.  

“Complying with the requirement means either submitting proof of vaccination by the January 14 deadline or receiving an approved medical or religious accommodation or state-permitted exemption,” a supply with information of the financial institution’s insurance policies advised CBS MoneyWatch, whereas noting that the identical deadline doesn’t apply to department employees. 

Debate is swirling across the definition of totally vaccinated, too. The Omicron variant is claimed to have the ability to evade two-dose vaccines, and a few establishments, from Facebook guardian firm Meta in Menlo Park, California, to the Metropolitan Opera in New York City are beginning to require that people reveal that they have been boosted past their preliminary vaccine routine to return to places of work and attend performances indoors.

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