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Citigroup Expects to Cap Office Occupancy at 40% Without a Vaccine

  • Bank employees hesitant to use subways, buses to get to work
  • Lender paused some of its return-to-office plans this week
Citigroup To Announce Earnings

Photographer: Victor J. Blue/Bloomberg

Citigroup Inc. probably won’t bring even half of its workforce back to offices around the world until a coronavirus vaccine is available.

The bank has begun to return a small percentage of workers to offices globally, but has run into a consistent problem: public transportation. Employees are hesitant to use subways or buses to get to work, said Paco Ybarra, who leads the bank’s institutional clients group.