US:Omicron derails return to office plan

Omicron has derailed the plan of normalcy for corporate America. A new wave of Covid uncertainty is upending business plans from Wall Street to Silicon Valley. Apple Inc. and Alphabet Inc.'s Google have indefinitely put off their return-to-office dates. Manhattan holiday parties are being canceled and banks are contending with fresh outbreaks as the omicron variant spreads. Citigroup Inc. said staffers in the New York City metropolitan area can work from home through the holidays, with hedge-fund firm Citadel issuing similar guidance. JPMorgan Chase & Co. shifted its big San Francisco health-care conference online after major biotech companies pulled out of the event.

The latest virus resurgence is putting bosses in a tough spot navigating employee safety and constantly shifting plans for office work, business travel and social gatherings after almost two years of Covid confusion. At the same time, many Americans have largely resumed normal activities in their personal lives, from dining out to attending big events, creating a disconnect between what's happening at jobs and at home. New York is now contending with rising virus cases, with models from the Centers for Disease Control and Prevention estimating the omicron variant could make up 13% of Covid-19 infections in the area and in New Jersey. Last week, Jefferies Financial Group Inc. told bankers to go back to remote work after the firm saw an increase in cases following the Thanksgiving holiday.

Morgan Stanley has also had recent outbreaks at its New York offices, according to people familiar with the matter. The bank, where workers typically sit in an open-office format, has required employees be vaccinated but doesn't have a mask mandate. A spokesperson for the company declined to comment. The effects of the latest surge are being felt broadly. Cornell and Princeton universities shifted finals online, infections are sweeping through the National Football League, and Apple temporarily shut three retail stores after outbreaks in the U.S. and Canada. Cases are extending to the C-suite, with Verizon Communications Inc. CEO Hans Vestberg disclosing Wednesday that he recently tested positive for the virus and has been quarantining at home with mild symptoms.

In Silicon Valley, the upheaval is delaying an already slow return to normal for tech giants, many of which have permanently embraced flexibility as they compete for in-demand workers. Apple on Wednesday moved its return-to-office date from Feb. 1 to a time "yet to be determined," following Google and Uber Technologies Inc. in giving up on formal timelines. Google set and reset return dates so many times that employees stopped taking them seriously. "Every date kind of became a joke," Jeffrey Yaskin, a tech lead for Google Chrome's web platform team, told Fortune.