Mastercard encourages WFH till COVID-19 Vaccine is out

By Rahul Vaimal, Associate Editor
  • Follow author on
Representational Image

Credit card behemoth Mastercard will not direct its staff to return to offices and continue to Work From Home (WFH) until a vaccine is available for the coronavirus.

The Organisation is also studying at its real-estate impact and considering merging offices, Chief People Officer Michael Fraccaro said.

“We expect in the coming weeks and months that more employees will continue to work from home than come into the office. And we are OK with that. We support that choice.”
 Michael Fraccaro
Chief People Officer – Mastercard

The world’s second-largest payment processor operates with nearly 20,000 people all over the world, with its main bases in Westchester, New York City.

When the situation steadies, organizations around the world may find that their offices are only about 30 percent full encouraging them to think about future real-estate needs. Mastercard joins other technology and financial firms that have said they do not intend to perform widespread get-back-to-the-office initiatives any time soon.

But it has gone somewhat further than others by saying it is in anticipation for a vaccine and not fundamentally following its reopening timeline with when government lockdown orders end. Mastercard has formed a “future of work” task force that is comprehending on how to handle real estate and employee needs.

About 90 percent of its workforce is working remotely, including those based abroad including Beijing and Shanghai. Employees who operate from offices are expected to follow social distancing rules religiously, wearing masks and undergoing periodic temperature checks.

“Once there is adequate testing and there is a vaccine and people feel comfortable to return, then we may see more,” he said. “But in the early phases, it will be vastly less than what we had.”