The lender’s offices in the U.S., Canada and the U.K. will remain shut to all non-essential staff at least through the Labor Day holiday on Sept. 7, Chief Executive Officer
That’s one of the strongest signs yet that legions of industry employees using makeshift work stations at home may have to wait much longer to return to their offices, even as many states begin lifting restrictions on public life. Capital One, which earns most of its revenue from its massive credit card business, said in late March it had more than 40,000 people doing their jobs remotely online, accounting for more than three-quarters of its workforce.
Many major financial firms have yet to publicly set dates for reopening offices as they grapple with numerous challenges, such as how to help employees safely commute, ascend elevators and navigate shared workspaces. And those that have weighed in on the topic have expressed caution. At
“Each day blends into the next,” they wrote. “Each of us are running at a million miles an hour, without ever leaving our home-office caves. We recognize this reality and are deeply appreciative.”
Capital One, for its part, has spent years investing in technology and was among the first U.S. banks to announce it would transition to cloud computing. Those moves helped the firm operate more effectively during this crisis, Fairbank said in the memo.
Decisions to return will vary by location, dependent on local conditions, he said. Meanwhile, most of the lender’s branches have remained open, serving customers with drive-thru or from behind glass.
(Updates with other banks’ plans from the fifth paragraph.)
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