Workforce management

Citigroup tells staffers to take Friday off as thanks for hard work


The memo from CEO Michael Corbat acknowledged the challenges many employees have faced working remotely during the coronavirus outbreak while taking care of family members and home-schooling their children.


Capital One to keep most staff home until at least September


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, CEO Richard Fairbank wrote in an internal memo.


Bankers aren’t returning to skyscrapers anytime soon


As the coronavirus outbreak starts to ebb in New York and pressure rises on the U.K. government to end London’s lockdown, the largest banks are grappling with how to adhere to social distancing rules.


Big banks try to figure out logistics of 'back to work'


Inside Citigroup's headquarters in Manhattan, executives are trying to solve a problem bedeviling much of Wall Street: How to get employees up elevators.


LendingClub laying off 460 staffers, including president


The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%.


Citi may be more cautious than states in reopening offices


Once it starts reopening offices around the world, it "will continue to prioritize the safety of our employees, customers and communities," Citigroup President Jane Fraser said.


Coronavirus forcing banks to retool summer internships


Reluctant to cancel what have become pipelines for developing talent, banks are delaying start dates or moving programs entirely online.


Capital One moves summer internships online in coronavirus response


About 1,000 interns were notified of the change this week. They will still receive the pay and housing funds outlined in their original offer letters.


Can banks help rescue country without undercutting themselves?


In supporting the economic recovery from the coronavirus pandemic, lenders have a chance to restore public trust damaged in the last financial crisis. But they face tough decisions on dividend cuts, executive pay, furloughs and deeper changes to their business model in the process.


Bank of America pledges to retain and pay staff throughout 2020


CEO Brian Moynihan also said in an interview that the bank is helping clients affected by the coronavirus pandemic through increased commercial lending to companies and expanded forbearance for Main Street customers.