Wells Fargo, Bank of America, JPMorgan, to Offer Employees Paid Time for Vaccine Appointments

Wells Fargo is offering paid hours from March 8 to eight hours to encourage all eligible global employees to receive COVID-19 vaccines.

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“While we understand that it is a personal decision to choose to be vaccinated, we encourage you to consider the vaccine if it is available to you,” said the bank’s head of human resources, David Galloreese, written in a note to employees.

In addition, Wells Fargo will expand its COVID-19 testing program and offer free on-site testing to workers at the bank’s 25 largest branches. Employees currently signing up at other Wells Fargo facilities, including its branch network, can take quizzes that can be applied at home.

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The fourth largest US bank joins competitors JPMorgan Chase, Bank of America and Citigroup.

Representatives of Bank of America and JPMorgan Chase told FOX Business that eligible employees will be given up to eight hours of paid time to accommodate the vaccine appointments. Meanwhile, according to Bloomberg, Citigroup will ‘need a reasonable amount of time to travel and get the vaccine’.

Other companies that have offered similar reward incentives to employees receiving COVID-19 vaccines include Aldi’s, Amtrak, AutoZone, Best Buy, Chobani, Darden Restaurants, Dollar General, Instacart, Trader Joe’s, Kroger, Lidl, Publix, McDonald’s, Tyson Foods and Targets.

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Johnson & Johnson’s vaccine, developed by its pharmaceutical subsidiary Janssen, recently became the third to receive emergency approvals from the Food & Drug Administration and the Centers for Disease Control and Prevention approved. Unlike previously approved vaccines from Pfizer and BioNTech and Moderna, the vaccine Janssen requires a single shot.

Johnson & Johnson this week began sending their initial supply of 3.9 million doses to state health departments, pharmacies, federally qualified health centers and community vaccination centers. The company expects to deliver enough single-vaccine vaccines by the end of March to vaccinate more than 20 million Americans and 100 million single-shot vaccines during the first half of 2021.

An FDA analysis found that Johnson & Johnson’s vaccine was approximately 67% effective in preventing moderate to severe cases within 14 days of administration and 66% effective in severe to critical cases after 28 days. In addition, the vaccine was approximately 77% effective in preventing severe or critical COVID-19 occurring at least 14 days after vaccination, and 85% effective in preventing severe or critical COVID-19 occurring at least 28 days after vaccination.

Meanwhile, the Pfizer and Moderna vaccines were 95% and 94.1% effective, respectively.

According to the CDC, more than 82.5 million COVID-19 vaccines were administered in the United States as of Thursday.