HSBC CEO Plans for Permanent Hybrid Work, Much Less Jet-Setting
- Lender sees 50% reduction in travel budget post-pandemic
- Bank is slashing real estate footprint across its offices
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HSBC Holdings Plc isn’t about to throw away its pandemic-era ways of working.
The bank, which is in the midst of a historic pivot and cost cutting program, predicts it will be operating in a profoundly different way after the virus outbreak ebbs, with as many as 70% of its staff backing a hybrid working model and with its business travel budget cut in half.