Some credit unions that gave bonuses to front-line staff at the onset of the coronavirus outbreak may be too cash-strapped to offer similar payouts during this latest surge.
Citigroup’s Michael Corbat said he’s worried about potential long-term negative effects after many of his employees spent the vast majority of 2020 working from home.
With COVID-19 cases soaring, a growing number of banks, including JPMorgan Chase, U.S. Bancorp and Capital One, have pushed back target dates for bringing employees back to offices. Some are even allowing them to work from home indefinitely.
Some workers have thrived while working remotely but others miss the social interaction of an office, and the recent surge in coronavirus diagnoses means employers will be facing these challenges well into next year.
A contentious presidential contest and social justice protests have forced employers to consider whether these types of topics should be discussed in the workplace.
John Lewis, who is currently general counsel for the New York-based credit union, will take over for CEO William Predmore, who is retiring at the end of the year.
