Finance Firms Shift Saudi Staff Remote After 2 Houthi Strikes Hit Airport, Aramco
Updated
Updated · Reuters · Oct 15
Finance Firms Shift Saudi Staff Remote After 2 Houthi Strikes Hit Airport, Aramco
3 articles · Updated · Reuters · Oct 15
Summary
JPMorgan, Deutsche Bank and Franklin Templeton have told Saudi Arabia-based staff to work from home, with Franklin Templeton temporarily closing its Riyadh office and setting no return date.
The policy shift followed a week of Houthi attacks, including Saturday's strike on Riyadh's King Khalid International Airport and Tuesday's attack on Saudi Aramco headquarters.
JPMorgan and Deutsche Bank began offering remote work from Sunday while keeping offices open, and the flexibility also helps parents after Saudi Arabia moved schools online this week.
Citi had already allowed employees to work from home, while the Houthis vowed more attacks on Saudi airports and oil facilities as the conflict linked to the US-Israeli war against Iran widens.
The security threat is also disrupting Gulf dealmaking events, pushing Saudi Arabia's flagship Future Investment Initiative later this month toward a hybrid format.