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May 20, 2020

Visa says most employees may continue to work from home for entire 2020

Visa employees may continue to work from home for the rest of the year in light of the Covid-19 pandemic, Bloomberg reported.

The San Francisco-based firm predicted that the majority of its 20,000-strong workforce will continue to work remotely.

According to regulatory filings, Visa owns or leases 131 offices in 76 countries.

Visa CEO Al Kelly said: “It simply seems wrong for Visa employees to be crowding transit systems and roads when we have the flexibility to both continue full business continuity while working from home.

“Those who have to get to their place of work to receive a paycheck should have priority use of socially distanced transit.”

Kelly added that the firm may bring back its employees to offices in phases on a site-by-site basis.

Recently, American Express also allowed its employees to work from home through 2020.

American Express CEO Steve Squeri noted that the company will begin opening branches on a location by location, floor by floor and colleague by colleague basis.

The company’s offices will be treated as an alternative workspace going forward and the employees who need to work from the office will return in phases.

Visa reported a net income of $3.08bn for Q2 of the fiscal year 2020, up 4% compared to the previous year.

Besides, the firm pulled its full-year outlook as consumer spending saw “significant deterioration” amid Covid-19 lockdowns.

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