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Aug. 23, 2021, 7:13 a.m. EDT

Canada's Big Banks To Make COVID-19 Vaccines Mandatory

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Aug 23, 2021 (Baystreet.ca via COMTEX) -- Canada's big banks have become the latest businesses to require that workers be fully vaccinated against COVID-19 before returning to work at office locations.

Toronto-Dominion Bank /zigman2/quotes/209283160/delayed CA:TD -0.73% , Canadian Imperial Bank of Commerce /zigman2/quotes/206423838/delayed CA:CM -0.89% and Bank of Montreal /zigman2/quotes/203180563/delayed CA:BMO -1.08% have joined other major financial firms in requiring returning staff to be fully vaccinated. All Toronto-Dominion employees will be asked to register their vaccination status by September 30, according to a memo sent to staff.

CIBC and Bank of Montreal said in internal memos that they're requiring their employees in North America to be fully vaccinated by October 31. Royal Bank of Canada /zigman2/quotes/200638870/delayed CA:RY -0.68% said it would require jabs by the end of October. And Bank of Nova Scotia /zigman2/quotes/206642548/delayed CA:BNS -0.58% is moving in the direction of making vaccinations mandatory for all Canadian-based employees and contractors, said the financial institutions.

Any Toronto-Dominion workers who aren't vaccinated or haven't disclosed their status by November 1 will be required to complete training about the benefits of vaccination, submit to mandatory COVID-19 rapid testing and wear a mask at all times. The bank wouldn't say whether employees who continue to hold out after that deadline would lose their jobs.

Concerns about the highly transmissible Delta variant are causing companies and governments to rethink the safety of allowing unvaccinated employees to return to offices. Earlier this month Prime Minister Justin Trudeau said Canada would mandate COVID-19 vaccines for air and rail passengers and employees, public servants and other categories of federally regulated workers.

Last week, Toronto's medical officer of health said all city employers should institute vaccine policies to protect workers and the public. At a minimum, workers should be required to provide proof of vaccination and, if they're not, provide a medical explanation and attend a vaccination-education course.

COMTEX_392052143/2559/2021-08-23T07:12:45

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/209283160/delayed
CA : Canada: Toronto
$ 101.02
-0.74 -0.73%
Volume: 457,395
Jan. 21, 2022 9:51a
P/E Ratio
13.09
Dividend Yield
3.52%
Market Cap
$185.07 billion
Rev. per Employee
N/A
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/zigman2/quotes/206423838/delayed
CA : Canada: Toronto
$ 160.40
-1.44 -0.89%
Volume: 138,571
Jan. 21, 2022 9:52a
P/E Ratio
11.51
Dividend Yield
3.73%
Market Cap
$72.98 billion
Rev. per Employee
$507,221
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/zigman2/quotes/203180563/delayed
CA : Canada: Toronto
$ 144.25
-1.57 -1.08%
Volume: 3.14M
Jan. 21, 2022 9:52a
P/E Ratio
12.46
Dividend Yield
3.69%
Market Cap
$94.51 billion
Rev. per Employee
$737,478
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/zigman2/quotes/200638870/delayed
CA : Canada: Toronto
$ 144.32
-0.99 -0.68%
Volume: 2.16M
Jan. 21, 2022 9:51a
P/E Ratio
13.05
Dividend Yield
3.33%
Market Cap
$207.02 billion
Rev. per Employee
$651,034
loading...
/zigman2/quotes/206642548/delayed
CA : Canada: Toronto
$ 90.51
-0.53 -0.58%
Volume: 297,396
Jan. 21, 2022 9:52a
P/E Ratio
11.74
Dividend Yield
4.42%
Market Cap
$110.64 billion
Rev. per Employee
$426,325
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