Like Tree46Likes

JPM to pay upto HK$ 39K for Quarantine Expenses...

Reply
Page 1 of 4 1 2 3 4 LastLast
  1. #1

    Join Date
    Dec 2002
    Location
    ???
    Posts
    39,603

    JPM to pay upto HK$ 39K for Quarantine Expenses...

    Not sure if this is going to create a rush for people to leave on holiday... no hotels to come back to. But still ...good PR move. If nothing else, makes it expensive for other banks.

    JPMorgan Chase is offering to pay some of its Hong Kong-based staff up to HK$39,000 each for their hotel quarantine stay for personal trips, a memo from the Wall Street bank to employees 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.
    https://www.thestandard.com.hk/secti...ion/11/236333/
    qhank likes this.

  2. #2

    Join Date
    Dec 2002
    Location
    ???
    Posts
    39,603

    Oops .. seems like this is old news, picked up again through a Reuters article.

    “We recognize 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,” JPMorgan’s Hong Kong chief Harshika Patel said in the memo. The program applies to employees under quarantine between Dec. 1, 2021 and Nov. 30, 2022, the memo said.

    https://www.thestandard.com.hk/break...tion/4/183292/

  3. #3

    Genius move…hearts and minds, and great PR


  4. #4

    Join Date
    May 2012
    Posts
    964

    Which hotel can you get for 39k though...for three weeks?

    Elegiaque likes this.

  5. #5

    Join Date
    Aug 2011
    Location
    Hong Kong
    Posts
    578

    And they still pay their lower level staff in the US minimum wage for the state. Great company ...not


  6. #6

    Join Date
    Sep 2015
    Posts
    286
    Quote Originally Posted by David4Maths:
    And they still pay their lower level staff in the US minimum wage for the state. Great company ...not
    gotta earn more to pay for Jamie’s little treat like coming to HK for no particularly important or necessary reasons
    hongkong7 and qhank like this.

  7. #7
    Quote Originally Posted by alexdown:
    Which hotel can you get for 39k though...for three weeks?
    PentaHotel - HK$18,900 for 2 pax for 3 weeks.
    qhank likes this.

  8. #8

    Join Date
    May 2011
    Location
    Sai Kung
    Posts
    2,773
    Quote Originally Posted by alexdown:
    Which hotel can you get for 39k though...for three weeks?
    Well it’s 39K more than my competitor company is offering
    pin, shri, aw451 and 9 others like this.

  9. #9

    Join Date
    Jun 2018
    Posts
    615

    Too much unused holiday accrual on the balance sheet. I bet this actually generates a profit.

    pin, aw451 and rkenia852 like this.

  10. #10

    Join Date
    Jan 2010
    Posts
    5,981
    Quote Originally Posted by alexdown:
    Which hotel can you get for 39k though...for three weeks?
    that's $1800 a day, that's plenty for most quarantine hotels. Enough for a deluxe room at the Four Points or the Crowne Plaza

Reply
Page 1 of 4 1 2 3 4 LastLast