This 152 Year Old Consulting Firm Cancels Work From Office For 7000 Employees; Asked To Work From Home

On Wednesday, American investment banking company, Goldman Sachs informed its employees to return to working from home at its operation in Indian IT capital Bengaluru.

Why Would This Happen?

The New York headquarters company has informed all employees based in Indian operations except for the critical staff.

The company is considering reversing its move to get staff back to one of its biggest global offices as coronavirus infections in the city grew.

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Prior to this, India reported a new variant of the coronavirus as new infections. 

The virus has caused deaths nationwide and hit the highest this year, prompting the imposition of new restrictions in some states.

On Tuesday, the heart of the Tech industry, Bengaluru has witnessed 1,280 new infections, according to city-data.

What To Expect In Future?

 In response, the teams had been told to return to working from home ahead of an all-office town hall call at 2 p.m. local time on Thursday, sources said.

Around 14,000 new cases have been reported as of March, which is more than twice the number recorded in February.

Although “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,” said the sources.

Further adding, “There’s no word on how long the work-from-home will continue but my guess is that we won’t be returning to the office for the next three to four months”.

The Bengaluru office has over 7,000 employees, who are involved in a variety of functions including technology, finance, and human resources.

They also provide support for business lines such as trading and the consumer banking business, Marcus.

Keen On Getting Staff Back To Office

Prior to this, Goldman Chief Executive David Solomon has been among the keenest of major banking leaders on getting staff back to the office.

As he was communicating with the employees on a global conference call earlier this month and hopes to have them back by this summer.

While talking about their future plans for Indian employees, the spokesperson said, “We continue to work on plans to return our people to the office safely, and those plans will vary division by division, country by country, city by city.

Further adding that “The safety of our people is our most important priority and we will remain flexible as we monitor evolving government guidelines and the uneven global vaccine rollout”.