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What New York banks are telling employees about battling the snow storm

Snow

With snow expected to fall as much as 4 inches per hour and winds gusting, Wednesday won’t be much of a commute for many New Englanders. They’ll be stuck at home. New Jersey transit is stopping its rail service at 8 p.m. tonight, with Metro North and Long Island Rail Roads planning to close at 11 p.m.

Whether or not offices are closed and if people physically show up to work depends on how the storm unfolds and a person’s proximity to their office. If you are a banker who lives in Manhattan, you may feel obliged to make an appearance.

To get a better idea of what to expect, we reached out to all major banks in New York and asked them their policy and what they’re telling employees. Here’s what they said. The short of it: err on the side of caution.

Citigroup

“Citi has advised its employees that only critical staff should come into the office on Tuesday. If and when we revise branch hours, we will post the information on our websites and through social media. ATM cash levels will be monitored centrally and replenished as needed.  Citi is committed to providing uninterrupted service to our clients and customers while minimizing any possible impact during the storm.  We continue to closely monitor the situation and will provide any necessary updates to our clients and employees.” – statement from Citigroup

Barclays

“At this time, all Barclays offices, financial markets and exchanges are scheduled to be open for business on Monday, January 26.

Since travel may be challenging Monday afternoon and evening, please plan your commute or overnight accommodations, accordingly.

We or course are monitoring the situation and will be communicating to our employees as necessary as the situation progresses.” – a memo issued to Barclays employees on Sunday.

Bank of America

“We’re encouraging all employees in the path of the storm to work with their managers on a plan that keeps them out of harm’s way.  That can mean working from home, leaving early or securing local lodging.” – a statement from Bank of America

Morgan Stanley

Morgan Stanley told us that they are taking steps to keep the business running while keeping everyone safe. That includes allowing people who can’t make it to the office to work from home.

Goldman Sachs

Goldman said it doesn’t have an official policy concerning the storm, but is encouraging some to work from home or at alternate sites that may be more commutable. But the bank made it clear it will be open and operational, though some of the work will be pushed to cities like Salt Lake City and London.

J.P. Morgan and Credit Suisse declined to comment. Several other banks have yet to return requests for comment. We will update the article if they do.

Stay safe out there!

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