Tighter government COVID-19 restrictions from Saturday already prompting UBS and other banks to re-impose workplace limits.
The Hong Kong government yesterday announced a raft of new COVID-19 restrictions yesterday following a number of untraceable Omnicron variant cases, a step that is already prompting UBS and other banks to ask bankers to resume working from home.
The government says on its website that the enhanced restrictions will take effect from 7 January and last for 14 days. Group gatherings of more than four people will be prohibited and restaurants will have to close at 6pm.
All leisure and sports facilities, gyms and bars will be fully closed. It has also suspended all flights from Australia, Canada, France, India, Pakistan, the Philippines, the UK and the U.S.
UBS Taking Steps
At Credit Suisse, the Swiss bank will reduce the occupancy target of its Hong Kong office at commercial skyscraper International Commerce Centre (ICC) to a maximum of 50 percent beginning on January 10 next week, according to an internal memo seen by finews.asia.
Separately, Rival lender UBS is splitting its 2,500-strong workforce into two alternating groups with one working from home and the other in the office, according to a «Reuters» report citing an internal memo.
Employees have also been asked to curtail movement in the office and sharply limit socialization outside their direct teams, the memo indicates. Reuters reported that other banks taking similar steps include HSBC, Bank of America, and Standard Chartered.
Others are expected to follow as the restrictions come into effect.
