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Capital One and Genworth Financial postpone plans to return to the office until next year

Capital One and Genworth Financial postpone plans to return to the office until next year

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Capital One is the Richmond region’s largest employer. Its main campus is in Goochland County.

Economist Royce Mendes with CIBC says as the weather gets colder, it's going to be critical to see other parts of the economy pick up as businesses that rely on outdoor activities shut down again.

Employees at Capital One Financial Corp. and Genworth Financial won’t be returning to the office until at least sometime next year.

Capital One workers were slated to return to the office under a hybrid work model starting Nov. 2, but that has been delayed because of the continuing health concerns from the more contagious delta variant of the COVID-19 virus.

Capital One, the Richmond region’s largest private employer, told workers in a memo on Thursday that no return-to-the-office date has been set.

“Given the continued fluid nature of the situation, a decision was also made not to attempt to forecast a specific date for a full-scale reopening of U.S. offices,” the memo to employees said.

Genworth has postponed its office reopening until at least January after saying in August that it hoped employees could return to the office in October.

“We are continuing to watch the trends and will revisit that decision in early December,” Genworth spokesperson Amy Rein said.

Capital One said it will give employees 30 days’ advance notice before any decision to fully reopen U.S. offices in 2022 under a hybrid work model.

“It is with sincere hope that a return to life as we always knew it is just around the corner,” the memo said. “But there remains uncertainty about the direction of this pandemic and the timing of a sustained improvement in health conditions across the country.”

This is the second delay in reopening offices for Capital One and Genworth, one of the Richmond region’s largest private employers with about 850 local workers.

In the Richmond area, Capital One employs about 13,000 workers at its campus in the West Creek office park in Goochland County, and offices in Henrico County. The company also has two Capital One Cafe banking locations.

The McLean-based financial services and credit card giant, had planned to have employees come back on Sept. 7, but in early August the company announced a delay until Nov. 2 because of the rising number of cases related to the delta variant.

Capital One announced in June that it was planning to become a “hybrid work company going forward,” with employees spending part of their time working at home and part of their time at the office.

When the company said in August that it was postponing the return to the office to November, Capital One told employees who have not been vaccinated that they “should continue to work from home and will be supported in doing so.”

Employees going to Capital One offices will be required to show proof they have been vaccinated. The company has said all contractors, vendors and visitors to Capital One sites must also be vaccinated.

Several large companies across the country, including Apple, Microsoft, Amazon, Google, Facebook, Starbucks and Wells Fargo, also have announced plans to delay their return-to-the-office plans until next year.


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