- The Bengaluru office of Goldman Sachs has about 7,000 employees who are included in a variety of functions, including technology, finance and hr, while also assisting business lines such as trading and the customer banking business, Marcus
- The country yesterday saw around 47000 cases.
Investment banking firm Goldman Sachs has asked all the employees, other than essential needed at its operation in Bengaluru, to start working from home on Wednesday. Reversing moves to get staff back to one of its most prominent global offices as Covid-19 cases in the Indian IT capital grew.
“This hasn’t come as a surprise given how coronavirus cases have been rising in the city, specifically in the area where the office is located,” news agency Reuters quoted an employee as saying.
“There’s no word on how long the work-from-home will continue, but I guess that we won’t be returning to the office for the next three to four months.”
The Bengaluru office has about 7,000 employees – the bulk of its Indian workforce – who are involved in various functions, including technology, finance and hr, while also assisting business lines such as trading and Marcus, the consumer banking business.
Goldman Chief Executive David Solomon has been among the keenest prominent banking leaders on getting employees back to the office, telling staff on a global conference call earlier this month that he hopes to have them back by this summer.
Asked about the Indian moves, a spokesman for the bank in New York said: “We continue to work on how to return our people to the office safely, and those plans will vary division by division, country by country, city by city.
“The safety of our employees is the most important priority for us, and we will remain flexible as we monitor upcoming government guidelines and the uneven global vaccine rollout.”
Meanwhile, a new and highly infectious strain of Covid-19 that may render vaccines less effective has been detected in India, complicating the country’s battle to curb the pandemic’s second wave.
This strain has two mutations and can cause sickness despite the immunity developed by natural infection or vaccines.
In addition to the UK, South African and Brazilian variants already circulating in 18 states of India.
According to city data, Bengaluru reported 1,280 new infections on Tuesday. Several sources at Goldman told Reuters that the company had told teams to return to working from home ahead of an all-office townhall call at 2 pm local time on Thursday.
In March so far, nearly 14,000 new cases have been reported, more than twice the number recorded in February.
The country is witnessing a second wave of covid19 as the cases are increasing day by day.