HSBC seeks smaller HQ.
Matthew Pinto-Chilcott, Owner of Consensus HR comments: “This is one office block, you always see on the opening credits of The Apprentice on the BBC with its HSBC logo, but it would seem that with the continuing closure of banks on the high street, HSBC is now looking to reduce its office space in London. This is in contrast to Lloyds of London who reportedly are in talks to extend the lease of its London headquarters in order to bring staff back into the office. All of our clients have now returned to the office to work with the consensus that it is better for team / working atmosphere and productivity with a few allowing tow / three days out of the office but the remainder of their working week within the office. Within many of our recent blogs we discussed: Flexi / Hybrid Working, Young People seek to make friends, UK Employees to be given more flexible working rights, Menopausal Women and flexible working patterns and Flexible Working key to reducing pay gap, Civil Servants claim.”
News Article: HSBC seeks smaller HQ.
HSBC is looking for a new London office that is less than half the size of its current site. The bank is seeking a new global headquarters of between 400,000 and 500,000 sq. ft – far smaller than its 45-storey skyscraper at Canary Wharf, which spans 1.1m square feet. Having embraced remote and hybrid working to a greater extent than peers such as JPMorgan and Goldman Sachs, HSBC wants to reduce its office space by 40% globally compared with pre-pandemic levels. Elsewhere, insurance marketplace Lloyd’s of London is reportedly in talks to extend the lease on its City of London headquarters as it works to bring staff back into the office.
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