Watch JPMorgan grants Hong Kong employees as much as $5,000 for lodge quarantine – Reuters Asia News

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An indication outdoors JP Morgan Chase & Co. workplaces is seen in New York Metropolis, U.S., March 29, 2021. REUTERS/Brendan McDermid/File Photograph

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HONG KONG, Nov 22 (Reuters) – JPMorgan Chase & Co (JPM.N) is providing to pay a few of its Hong Kong-based employees as much as $5,000 every for his or her lodge quarantine keep for private journeys, a memo from the Wall Avenue financial institution to staff seen by Reuters confirmed.

The transfer, seemingly the primary such introduced by a monetary establishment within the metropolis, comes because the Asian monetary hub’s COVID-19 measures, among the strictest on the planet, are mentioned to harm companies.

It comes after Jamie Dimon, the financial institution’s chief government, visited Hong Kong final week for 32 hours after he was given a authorities exemption from quarantine. learn extra

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The memo mentioned employees on the government director degree and beneath could be entitled to the one-off fee for a single quarantine keep in Hong Kong.

This system will run from December 1 to November 2022 and is for employees coming back from visiting speedy members of the family abroad, the memo mentioned.

“We recognize that the costly quarantine measures in place in Hong Kong associated with COVID-19 have impacted many of you with respect to visiting family and loved ones overseas,” the memo mentioned.

A JPMorgan spokesperson confirmed the contents of the memo, which was first reported by the South China Morning Post on Monday.

Hong Kong’s present guidelines stipulate returning residents and guests from most nations should spend two to 3 weeks in lodge quarantine paid for by themselves.

The Chinese language-ruled metropolis has registered barely any new infections in latest months however the authorities is protecting strict guidelines in place and closed borders.

Hong Kong has recorded 12,402 circumstances through the pandemic whereas the double dosed vaccination price stands at 66.8% , in accordance with a authorities web site.

Tight guidelines have been hitting Hong Kong’s largest companies, and monetary foyer teams have urged the federal government to contemplate enjoyable among the quarantine measures.

Cathay Pacific had 111 employees launched from obligatory quarantine on the weekend after they have been deemed shut contacts of three pilots who have been contaminated with COVID-19 throughout a layover in Germany.

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Reporting by Scott Murdoch in Hong Kong; Enhancing by Muralikumar Anantharaman

Our Requirements: The Thomson Reuters Belief Rules.

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