JPMorgan Chase & Co. and Bank of America Corp. would then offer employees paid time off when they become eligible to get the Covid-19 vaccine. JPMorgan employees who are qualified for the shots will be given eight hours to accommodate the appointments, the bank said Friday in an emailed statement. JPMorgan has a workforce of around 255,000.
Bank of America workers will have the option of using two half days, for up to four hours each, this year for vaccination appointments, the bank said in a staff memo seen by Bloomberg on Friday. The policy is intended to meet the two-dose regimen needed by the latest vaccines.
“The time-off advantage of Bank of America is part of an initiative to “help address the effects of the coronavirus and encourage our teammates’ physical, emotional and financial well-being,” the lender, which has approximately 212,500 workers, said in the memo. The contents of the memo were verified by a bank spokeswoman.
Similar benefits have been offered by other firms. Allstate Corp., one of the biggest publicly traded US auto insurers, said it would provide workers with paid time off during working hours to get the vaccine. Bank of Montreal said it was giving three hours to workers earlier this month, and would also cover some of the costs associated with getting the shots.
PayPal Holdings Inc. said it pledged $5 million on Friday to pay for Uber Technologies Inc.’s free or discounted rides to get people to vaccination appointments. PayPal said it responded to a call for businesses by the administration of President Joe Biden to help support vaccination efforts.
Since they lack transportation, nobody should miss their shot at getting vaccinated,” Uber Chief Executive Officer Dara Khosrowshahi said in a statement.”
In December, Bank of America, headquartered in Charlotte, North Carolina, said it will expand pandemic benefits for staff who need child or adult care services, provide reimbursements for caregiver expenses, and increase the amount of days this year workers can use backup facilities or in-home care.