Banks and investment firms are now offering work from home options to their employees as the new variant continues to spread. Particularly in New York, daily cases have increased sharply.

U.S. banks have been more proactive than other industries in encouraging employees to return to offices. But the recent surge in cases has caused some to rethink their position on remote work.

JP Morgan, Goldman Sachs, Citigroup, Carlyle, Jefferies Financial Group Inc. and many others are reverting to remote work starting this week.

Moreover, tech companies have also announced that they are delaying the date by which workers are expected to return.

A number of colleges and universities this week also announced they would revert to virtual learning models.