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MASTERCARD ABANDONS ITS OFFICES, INDEFINITELY

MASTERCARD ABANDONS ITS OFFICES, INDEFINITELY

As long as coronavirus is not under control with vaccines or other measures, Mastercard Inc (MA.N) offices worldwide will remain empty, said Reuters.

While other companies are gearing up to return to work, the world’s second-largest payment processor, said it will join the get-back-to-the-office bandwagon for the foreseeable future.

As long as coronavirus is not under control with vaccines or other measures, Mastercard Inc (MA.N) offices worldwide will remain empty, said Reuters.

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 office. And we are OK with that. We support that choice.”

Mastercard said they are looking at its real-estate footprint and considering consolidating offices.

“We have stated upfront to all our employees, that it is their choice … we want them to make the decision on when they feel comfortable returning to the office,” he added.

The company has nearly 20,000 employees worldwide.

Its main headquarters is located in Westchester, a New York City suburb.

Mastercard owns that campus since 1994 after purchasing it from IBM.

Fraccaro said, when the situation stabilizes, companies around the world may find that their offices are only about 30% full, which leads Mastercard to think about its future real-estate needs.

It’s main rivals American Express Co (AXP.N) and Visa (V.N) has implemented a similar program. 

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