SVB Financial Group tells employees to work from home until further notice

SVB Financial Group told its employees in a memo on Friday that they should work from home until further notice.

"SVB is undergoing a series of conversations that have not been concluded yet to determine next steps for the company," the bank said in a memo seen by Reuters.

Essential and branch employees are excluded from the request to work from home, the memo added.

SVB did not immediately respond to a request for comment.