Investment and financial services firm UBS recently announced employees who do not wish to get vaccinated are at liberty to work remotely. As part of the deal, about two-thirds of the total workforce can report remotely but with a few days of in-office work.
Advocating for a flexible hybrid/remote work model, CEO Ralph Hamers said: “The pandemic has delivered solutions to manage the risk of carrying the virus and passing it to your colleagues, and that is to work from home.”
UBS has over 70,000 employees globally. Out of the total, almost 25% is required at the worksite. This is creating a hurdle for those who are skeptical of getting vaccinated despite the bank’s support for remote work.
Other financial institutions such as Deutsche Bank have mandated vaccinations for employees and clients who enter their office. UBS is concerned about the effects of the pandemic and permits hybrid working for the majority of workers.
Switzerland, where UBS is headquartered, lags behind other European countries in terms of the number of people vaccinated.