(Bloomberg) -- Goldman Sachs Group Inc.’s top brass has formulated a plan to have U.S. employees return to offices next month as Wall Street’s march back to its skyscrapers gathers pace.
The investment bank is planning to tell employees that they should be prepared by mid-June to work from offices again, according to people with knowledge of the matter. The move follows a mandate last week from JPMorgan Chase & Co. chief Jamie Dimon, seeking to return his workforce in rotations from early July.
Goldman Chief Executive Officer David Solomon joins Dimon in counting on an expanding vaccination drive to hasten the revival of pre-pandemic routines in an industry where legions have spent 14 months working remotely. The duo has been at the forefront in sketching out the most pressing timelines to refill towers, moves that are likely to put pressure on other firms in finance and beyond.
In New York, home to the two banking giants, plans are underway to fully reopen by July 1, marked by the return of arenas, gyms, stores, restaurants and hair salons, Mayor Bill de Blasio said last week. Most capacity restrictions will be lifted across the state, New Jersey and Connecticut this month, while all-day subway service will resume in the city, New York Governor Andrew Cuomo said Monday at a briefing.
Goldman’s management is unlikely to follow a similar schedule in other countries as the virus charts an uneven course across the globe. That’s especially true for the firm’s sizable operation in India, the country now battling one of the most severe coronavirus outbreaks in the world.
©2021 Bloomberg L.P.