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.
Glitnor Group NED David Flynn completes month-long cycling journey from Sweden to Malta
At the time of writing, his journey has led to £24,849 (€28,665) being raised for mental health charities.
‘Failure is not the end, but rather a stepping stone towards success’ – Hudson Chairman Alfie Borg
He remarks that people tend to mistakenly view failure as a ‘setback’ or ‘disappointment’.
Are university degrees still must-haves for corporate jobs? Walmart doesn’t think so
University degrees still offer a route into industry, but nowadays, there are different ways of getting a dream job.
‘The yachting community in Malta is at a pivotal moment’ – MaritimeMT CEO
Pauline Micallef was speaking after Yachting Malta took part in the Cannes Yachting Festival.
