04-17-2019, 11:36 PM
Join Date: Jan 2013
Citigroup might chill out on pot drug testing for new hires
Just say no to drug testing.
Citigroup, one of Wall Street’s biggest banks, is looking to relax its drug testing of new hires as New York City gets ready to pass a law that would make it illegal to screen applicants for pot, The Post has learned.
The buttoned-up bank, led by Michael Corbat, tests all its applicants for drugs — including marijuana — making it one of Wall Street’s least chill firms, a person familiar with the policy confirmed to The Post.
But the bank’s upper echelons have recently discussed loosening the rules by no longer screening for marijuana, sources said, confirming a Business Insider report Tuesday.
The move comes a year after The Post exclusively reported that Citi asked a California pot dispensary called Citidank to stop using its name and logo. The dispensary has since changed its name to City of Dank.
Last week, the New York City Council passed a bill that would prevent most companies from screening applicants for marijuana use. The mayor has yet to sign it into law but has indicated he will.
Citi’s talk of diminishing drug testing also comes as Wall Street searches for ways to profit off the trend of states legalizing or at least decriminalizing marijuana, which has led to a boom in pot-growing companies.
“It’s not even New York City laws,” one person familiar with the conversations inside the bank told The Post. “It’s the broad conversation with legalization in the US.”
Of course, Citi would not be the first bank to lessen drug testing for job applicants.
Goldman Sachs, which is run by part-time DJ David Solomon, doesn’t test applicants for weed — although it still tests for other drugs. And Morgan Stanley, which is run by James Gorman, doesn’t test job candidates for any illicit substances that may be coursing through their veins.
Citi spokeswoman Elizabeth Kelly declined to comment.
The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine ( Godfather of the American Revolution)