HSBC’s top executives, including CEO Noel Quinn, will no longer have private offices within the bank’s Canary Wharf headquarters in London, as the bank joins other global players – including Google and Microsoft – in slashing office space following the largest worldwide remote-working experiment due to COVID-19.
HSBC will be replacing what used to be its executive floor with client meeting rooms and collaborative areas, according to the Financial Times, and its top execs will shift to hot desking.
“Our offices were empty half the time because we were traveling around the world. That was a waste of real estate,” the HSBC CEO told CNN Business, adding “it's the new reality of life.”
Mr Quinn had stated, earlier in the year, that the bank plans to cut its global real estate footprint by 40 per cent in the coming years, in favour of a more hybrid model which will see employees splitting their time between working at the office and from home.
Other UK banks, including Lloyds and Standard Chartered have announced similar plans to do away with expensive office space in favour of flexible working arrangements.
‘A very proud moment’: J’Oli Co-Founder celebrates new Cypriot outlet
Jean Paul Cascun says new Paphos outlet is 'only the beginning'.
Stefan Riolo appointed Executive Director of Clearflowplus
Stefan Riolo succeeds David Sacco in the executive role.
Beyond the boardroom: How St John’s Co-Cathedral is redefining corporate engagement
The country's mix of heritage venues and close-knit business community means familiar settings can be transformed into something genuinely memorable.
Sawadee Valletta! Iniala brings Thai family-style dining to Malta
Led by celebrity chef Ian Kittichai, Anaalā takes diners on a journey across Thailand with four rotating menus.
