HSBC scraps executive floor at London HQ, C level will hot-desk

AmiMoJo writes: Banking giant HSBC has confirmed that top managers in its Canary Wharf HQ have lost their offices and will have to hot-desk on an open-plan floor. The move comes as HSBC pursues plans to shrink its office space by 40% in a post-pandemic shake-up. Chief executive Noel Quinn told the Financial Times it was "the new reality of life" and that he would no longer be in the office five days a week. "We don't have a designated desk. You turn up and grab one," he added. At the same time, HSBC is pushing ahead with one of the banking industry's most drastic responses to the pandemic, including cost-cutting plans that will reduce its workforce by about 35,000.

Other firms in the sector have announced plans to embrace hybrid working as employees signal their desire to commute less. One big UK employer, the Nationwide building society, has indicated that it does not intend to force people to return to the office if they have been successfully able to work from home during the pandemic.