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Goldman Sachs gives staff special COVID-19 leave

Oscar Williams-Grut
·Senior City Correspondent, Yahoo Finance UK
·2-min read
UNITED STATES - APRIL 10: David Solomon, CEO of Goldman Sachs, testifies during a House Financial Services Committee hearing in Rayburn Building titled "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis," on Wednesday, April 10, 2019. (Photo By Tom Williams/CQ Roll Call)
David Solomon, CEO of Goldman Sachs. (Tom Williams/CQ Roll Call)

Goldman Sachs (GS) is giving staff a special 10 days of paid leave to use if they need to care for sick family and friends as a result of the COVID-19 pandemic.

Bentley de Beyer, the bank’s global head of human capital management, announced the new leave in a memo sent to staff this week. Employees can take up to 10 days of additional leave throughout 2020.

“Whether it be protecting your health, caring for a child whose school or daycare services are unavailable, adjusting to a new routine, tending to an ill or elderly family member, or managing feelings of isolation that can come from physical distancing, we recognize our people are dealing with unique personal circumstances related to the profound impact of COVID-19,” de Beyer wrote in the memo, which was reviewed by Yahoo Finance UK.

“As we continue to navigate this situation, we want to ensure you have access to the resources you need to care for yourself and your family.”

De Beyer said Goldman would also offer staff flexibility around how to structure their days and was providing online resources about keeping fit in isolation and caring for your mental health.

“Please know that we are listening and learning along the way, particularly from the experiences of our colleagues in Asia who have been dealing with this situation for several months, and we are highly committed to taking all the necessary steps to respond to the evolving needs of our people,” he wrote in the memo.

Like all businesses, banks are having to adapt to having the majority of staff now working remotely. While some critical Goldman Sachs staff continue to go into the office in the UK, the majority are now working from home after the government-ordered shutdown.

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