Capital One to Keep Most Staff Home Until at Least September
- CEO’s memo signals the financial industry may return slowly
- Credit Suisse, Goldman indicate they’re also working on plans
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Capital One Financial Corp., potentially setting a standard for the U.S. financial industry, plans to keep most employees working at home at least four more months as it waits for the coronavirus pandemic to ebb.
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 Richard Fairbank wrote in an internal memo. He promised employees that the McLean, Virginia-based firm will give them at least six weeks’ notice once it decides to reopen those sites.