HONG KONG: JPMorgan Chase is offering to pay some of its Hong Kong-based staff up to US$5,000 each for their hotel quarantine stay for personal trips, a memo from the Wall Street bank to employees seen by Reuters showed.
The move, likely the first such announced by a financial institution in the city, comes as the Asian financial hub’s COVID-19 measures, some of the strictest in the world, are said to hurt businesses.
It comes after Jamie Dimon, the bank’s chief executive, visited Hong Kong last week for 32 hours after he was given a government exemption from quarantine.
The memo said staff at the executive director level and below would be entitled to the one-off payment for a single quarantine stay in Hong Kong.
The programme will run from Dec 1 to Nov 2022 and is for staff returning from visiting immediate family members overseas, the memo said.
“We recognise 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 said.
A JPMorgan spokesperson confirmed the contents of the memo, which was first reported by the South China Morning Post on Monday.