Lloyd's of London bans drinking between 9am and 5 pm
- Author: Carolyn Briggs Feb 15, 2017,
Feb 15, 2017, 23:57
"The guidance removes any ambiguity on the policy", a Lloyd's of London spokesman said in a statement.
Many also wondered how such a rule could be enforced, with a Lloyd's of London representative saying that should an employee be found to have been drinking, their manager would decide on the best course of action to take.
The firm, founded in 1688, acknowledged the City of London has "historically had a reputation for daytime drinking", but that it had to keep pace with demands of the modern world.
A memo to employees, leaked to the Evening Standard, said that the ban was introduced after an analysis of grievance and disciplinary cases over the past two years...
The Corporation of Lloyd's, which oversees and supports the businesses operating in the Lloyd's market, made a decision to join this abstemious trend by formally prohibiting its 800 employees from drinking alcohol during business hours.
According to the Evening Standard, incensed staff shared their indignation at the new restriction on an online forum.
City workers are acting far more responsibly compared to in the past, due to the "dog-eat-dog" nature of the market now, David Buik, a market commentator at Panmure Gordon investment bank, told the paper.
"We have updated our employee guidance and it provides clarification on the rules around alcohol consumption, which is prohibited during business hours".
One more commentator said that "Lloyd's used to be a fun place to work. Now it is the PC capital of the world where you can't even go out for a lunchtime pint anymore?" one employee wrote.
Another post read: "Was there really a need for this?"
Others took issue with the fact the ban, which does not apply to brokers and underwriters from other firms who are based in the same building, was too "heavy handed" and did not treat workers like responsible adults.