Visa CEO may extend coronavirus-initiated work from home through end of year
Alfred Kelly Jr. said sending Visa employees back to work would be unfair to those who can't work from home
Visa, Mastercard may raise 'swipe' fees regardless of coronavirus
Creditcards.com Industry Analyst Ted Rossman discusses how interchange fees could increase in the coming months for credit card users.
Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
Visa CEO Alfred Kelly Jr. said he expects remote work for the majority of employees to be extended through the end of the year as a result of the coronavirus pandemic.
"The safety and well-being of Visa employees continues to be my top priority. As a result, I expect a majority of our workforce will continue to work from home through the 2020 calendar year," Kelly said In a LinkedIn post Tuesday. "While we will look at bringing employees back into our offices on a site-by-site basis in stages, the flexibility to remain working remotely is the right thing to do for our employees and their families. It is also the right thing to do for the broader communities where we have offices and where our 20,000 employees call home."
MICROSOFT CEO WARNS AGAINST PERMANENT WORK FROM HOME
Alfred Kelly Jr., chairman and CEO of Visa, participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 29, 2019, in Beverly Hills, California. (Michael Kovac/Getty Images)
VISA, MASTERCARD COULD RAISE SWIPE FEES ON MANY MERCHANTS: SOURCES
Kelly said that the majority of Visa employees are lucky enough to be able to work safely from home and it would be wrong for Visa employees to be "crowding transit systems and roads" and put those who can't work from home at increased risk.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| V | VISA INC. | 309.90 | +2.52 | +0.82% |
"Unfortunately, there are tens of millions of people who can’t work from home, for whom not showing up to work means not getting paid," 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."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Visa is the latest company to extend its work-from-home policy amid the coronavirus pandemic.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | NO DATA AVAILABLE | - | - | - |
| MSFT | MICROSOFT CORP. | 413.09 | -1.57 | -0.38% |
Last week, social media platform Twitter announced it would give its employees the option to work from home indefinitely even after the coronavirus pandemic ends, as its corporate offices are not expected to reopen to the majority of employees until at least September. Microsoft has also extended its remote work policy to at least October, but CEO Satya Nadella has warned that a permanent work-from-home policy would be detrimental to social interaction and mental health.