Due to Omicron Spread... Goldman Sachs Delays 'Office Return'

[Asia Economy Reporter Yujin Cho] Goldman Sachs, the largest Wall Street investment bank known for opposing remote work in the U.S., has postponed its office return date due to the spread of the Omicron variant.

According to major foreign media on the 2nd (local time), a Goldman Sachs spokesperson stated that they sent an email instructing employees in the U.S. to continue working from home until the 18th of this month.

This measure follows the announcement to double the mandatory COVID-19 testing frequency starting from the 10th of this month and to require booster shots for employees and visitors beginning next month on the 1st.

Unlike other Wall Street financial firms that have delayed their office return dates, Goldman Sachs had shown the most proactive stance toward normalizing office attendance.

The reason Goldman Sachs changed its office attendance policy is due to the fierce spread of the highly contagious Omicron variant across the U.S., including New York, where its headquarters are located.

Previously, JPMorgan Chase delayed office attendance for employees during the first two weeks of this year and allowed them to choose remote work, while Citigroup plans to monitor the Omicron spread until at least mid-month before deciding on the office return date.

As the Omicron variant spreads rapidly, the average daily number of confirmed COVID-19 cases in the U.S. over the past seven days reached approximately 396,400.

In New York State alone, as of the 31st of last month, a total of 85,476 confirmed cases were reported, marking the highest number of new cases since the COVID-19 pandemic began.

According to a research team at Columbia University, the seven-day average of new Omicron cases in the U.S. is expected to peak at up to 5 million starting from the 9th of this month.

The Washington Post (WP) reported that although the Omicron spread could peak within the next few weeks, it has become increasingly difficult to accurately predict the trajectory of COVID-19 spread as the pandemic enters its third year.