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The bank has also mandated such staffers to be tested twice a week, and said they would need to contribute a higher cut of their pay towards medical insurance, to account for testing expenses.
The Wall Street bank has urged its employees to get their COVID-19 shots, but not mandated vaccines, in line with peers such as Bank of America Corp (NYSE:BAC) and Wells Fargo (NYSE:WFC) & Co.
JPMorgan Chase will also require proof of vaccination from employees participating in client events in-person, effective immediately, according to the memo.
The bank also said new joiners in client-facing roles or those required to travel for business will have to get vaccinated.
