Taking a cue from Twitter (NYSE:TWTR), Shopify Inc. (TSX:SHOP) said it will allow its 5,000 employees to work from home indefinitely.
The Ottawa-based e-commerce company said its work from home policy will remain even after the coronavirus pandemic fades and cities lift lockdowns. The company said it plans to keep its offices closed for the rest of the year as it re-designs its space for a "digital by default" mindset and adjusts to a remote work environment. Offices will be limited to 20% to 25% capacity going forward.
Shopify is following a similar plan from Twitter Inc. Banks such as JPMorgan Chase & Co. (NYSE:JPM) and are also reducing their real estate and office capacity, at least in the short-term, as they try to maintain physical distancing in the wake of the global pandemic.
Shopify shares hit a record on Thursday, climbing as much as 3.5% to $804.94 U.S. in New York. Its shares have almost doubled this year, benefiting from the shift to online shopping caused by the COVID-19 pandemic.
Ottawa-based Shopify has more than 16 offices worldwide, including in London, Tokyo and Shenzhen. The company is re-thinking floor plans, including how to redesign conference rooms, elevator banks and employee workstations. Shopify said it may dispense with traditional conference rooms to avoid crowding and allow people who are in offices to participate in meetings via video screens.
