They piloted this with Columbus Day And Veterans Day, but now they plan to implement this for Christmas, Memorial Day, Thanksgiving, etc. you’re probably thinking, “just use floating holidays there”, but nope. The expectation is that most teams will need to have some representation for those holidays.
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You’re either following the Federal Reserve schedule or you’re following the Market schedule. Nobody is freestyling on their own schedules
Even the slowest will understand it after 3 or 4 years.
That makes no sense. The only reason they did Columbus, Veterans, and Good Friday (for brokerage), was because those three days either the bank or exchange is closed, while the other is open. All other holidays align with exchange and banks closed. They also did it to cancel out Juneteenth. Those on bank holiday schedule lost a day, exchange swapped GF for Juneteenth.
My department works every US holiday except Christmas and New Years Day because of the global market. Have to be staffed during all hours
Holiday on the weekend can be a floating holiday. However my company within banking industry is giving us half day Friday and Monday off for Christmas and New Years. BNY doesn't seem to stay focused on the clients.They would rather take the employees that are left and make them miserable.
Source, otherwise calling BS