HSBC’s Return-to-Office Push Risks Denting CEO’s Savings Plan

HSBC's office return push could cost over 10% of bank's targeted ...

HSBC’s return-to-office push risks denting CEO’s savings plan

The extra real estate costs could hinder the bank in its bid to find $1.5 billion in annual cost savings.

HSBC’s Return-to-Office Push Risks Denting CEO’s Savings Plan

HSBC Holdings Plc is forecasting hundreds of millions in extra real estate costs as it considers asking more of its employees to return to the office, potentially hindering the bank in its bid to find $1.5 billion in annual cost savings.

How to avoid a war over the return to the office

More workers are feeling militant, ready to quit – especially women and parents. And the reason isn’t pay or benefits but the growing insistence from employers that people should be in the office. The attitude towards home-working among senior management has changed sharply. It was the only option for many during Covid-19, then it offered a practical combination of wellbeing and the potential for more engagement and higher productivity. Now work…

HSBC faces £150m dilemma over office space as return-to-work drive clashes with post-pandemic downsizing

HSBC is facing a costly office space conundrum as it prepares to bring more staff back into the office, despite having significantly downsized its property footprint in the wake of the pandemic. The bank — Europe’s largest — now finds itself with so little planned workspace in London that, once it moves into its new office near St Paul’s Cathedral in 2027, staff will only have enough desks to be present one and a half days per week, well short o…