As Hurricane Sandy churns up the east coast, New York City Mayor Michael Bloomberg has issued a mandatory evacuation of in Zone A, which is where Goldman Sachs’ 200 West Street headquarters is located.New York Governor Andrew Cuomo also announced that the Subway commuter rail and bus services will be suspended in New York City at 7 p.m. It’s unclear when service will be resumed.
Since financial markets are expected to be open tomorrow, Goldman Sachs will also be open for business, according to an internal memo sent out to the bank’s employees obtained by Business Insider.
According to the contents of the memo, which have been confirmed by a bank spokesperson, the firm has activated its “Business Continuity Plans.”
This means Goldman will use teams in London and other locations around the world for additional support. They also have people working from the firm’s Greenwich and Princeton locations. Others will be working from home, the memo states.
“Individuals deemed critical to the operation of the firm will be notified by their divisions to come to work tomorrow, including at 200 West and 30 Hudson, but only if they can get to work and back home safely. Safety is our number one priority,” the memo reads.
We checked out Goldman’s 200 West Street offices the weekend. The bank has a bunch of sandbags stacked up outside in preparation for the storm.
Meanwhile, the New York Stock Exchange has closed the trading floor for Monday due to the storm.