Come back to the office or risk bonus cuts, HSBC staff told
- HSBC told its UK staff they must work at least three days a week in the office or risk reductions in their bonuses starting September 2023.
- This policy follows similar measures by Lloyds, Barclays, and JP Morgan aiming to increase in-office attendance after widespread remote work during the pandemic.
- Managers receive monthly data tracking whether employees meet a 60 percent attendance target, which influences overall performance assessments tied to variable pay.
- HSBC employs about 24,000 people in UK retail and commercial banking, with failure to meet office presence potentially affecting bonuses, mirroring Lloyds’ approach announced in January 2023.
- This stricter stance signals a broader finance industry shift to reduce remote work and reinforce office culture, reflecting concerns about mentorship and productivity.
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Money blog: HSBC 'sends ultimatum' to staff working from home
Welcome to the Money blog, Sky News' consumer and personal finance hub. Today: declaring some medical conditions increases travel insurance premiums by more than 1,000%; UK borrowing has soared, prompting tax rise speculation; and HSBC is clamping down on working from home.
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