Goldman to Offer Asia-Pacific Staff US$5000

Goldman Sachs Group Inc. is launching a reimbursement plan through which it hopes to compensate its employees in the Asia-Pacific for costs incurred from hotel quarantine stays as Hong Kong’s stringent Covid-Zero strategy makes it a difficult ordeal for global lenders who hope to keep top talent in the region.    

The said plan will allow Goldman staff in the region access to a one-time subsidy of up to US$5,000. This is expected to cover costs from a mandatory quarantine stay effective Dec. 1. This was detailed in a more sighted by Bloomberg. A Hong Kong-based spokeswoman confirmed the content of the memo.

It is supposedly stated in the memo that the subsidy reflects the fact the bank’s leadership recognizes that staff in the Asia-Pacific region have had to deal with “the additional burden of multiple lockdowns and some of the strictest quarantine measures in the world.”.

“We hope that this subsidy will make it easier for you to reconnect with families and friends living overseas, or even just to enjoy a change of scenery and recharge during a holiday abroad,” the memo revealed.

Goldman is the third global bank to launch a reimbursement plan to staff adversely affected by Hong Kong’s quarantine rules, treading the same path as its arch-rival Morgan Stanley and JPMorgan Chase & Co.