FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/
The bank’s CEO Noel Quinn said the reduction would come from axing office buildings as their leases come to an end and would not include branches or HSBC’s headquarters building in London’s Canary Wharf.“We are focused on those offices with support functions and head office activities when we talk about the 40% reduction,” Quinn said.
“Take London, for example, we will have the building at Canary Wharf, this will be the primary office but the nature of working in the office will change.” Several banks have said they will adopt more hybrid working after most of their staff switched to working from home in the pandemic, but few have spelled out a specific target for reducing space.
Corporate real estate is about to pop.
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