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HSBC forced a hot brass table top as the HQ executive split the floor

HSBC forced a hot brass table top as the HQ executive split the floor

HSBC CEO Noel Quinn has demolished the entire floor of the Canary Wharf home executive in East London as the bank becomes the latest to push for drastic changes in post-pandemic work practices.

Chief executives have been evicted from private offices on the 42nd floor, which have been turned into customer meeting rooms and collaboration spaces, Quinn told the Financial Times. The director – including the general manager – now has a hot table on the ground floor floor plan, two floors below.

“Our offices were empty for half the time because we were traveling around the world. That was a waste of real estate, ”he said. “If you ask our colleagues to change the way they work, just change the way they work.

“We don’t have a table set. You go and take one in the morning, “he added.” I won’t be in the office five days a week. I think it’s useless… It’s a new reality in life. “

HSBC has made previous efforts to modernize the culture compared to the public service of the British Empire. More than 20 years ago, management they told the staff As they prepared to move to the new Canary Wharf headquarters, they were “encouraged to take on the design of the proposed open plan.”

More changes were to come, Quinn promised. To achieve the goal of a 40 percent reduction in headquarters costs, HSBC has no plans to renew many of the downtown leases to be paid over the next three to five years. The bank is also changing its policy to about two employees per table, with the removal of branches.

“We will have a very different style of working in the future, it will be much more hybrid, colleagues can work in the office and participate at home,” the CEO said.

Quinn, a 59-year-old HSBC resident in Birmingham, is also working on other sections of banking operations.

The bank is in the midst of a 35,000 job reduction program to cut about 200,000 employees. This will help eliminate $ 5.5 billion in costs, with profits from the pressure of very low interest rates and a slowdown in world trade.

HSBC Covid-related office changes echo of peers.

Britain will be the largest mortgage lender nationwide allow 13,000 office workers can work from home from time to time if they wish. Lloyds is conducting hybrid work trials this spring after 77% of employees expressed a “desire” to continue working remotely.

Signed by Standard Chartered agreement With the flexible office company IWG many of the 95,000 employees can work from places “close to home” instead of going to cities.

Quinn, who has been in power for more than a year and a half, has begun to make her mark in other aspects of the bank’s management. Last week, himself relocate four high-ranking officers from the division to Hong Kong from London.

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