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HSBC plans to nearly halve office space over long term

HSBC aims to cut its office footprint by 40 percent over the long-term, the bank said in an analyst presentation accompanying its full-year results without giving further details.

February 23, 2021 / 03:41 PM IST

HSBC plans to nearly halve its office space globally over the long term as part of a renewed cost-cutting drive set out on Tuesday, in a further sign the COVID-19 pandemic is leading companies to make drastic changes to working patterns.


HSBC aims to cut its office footprint by 40 percent over the long-term, the bank said in an analyst presentation accompanying its full-year results without giving further details.

The lender unveiled a revised strategy focused mainly on wealth management in Asia after the COVID-19 shock saw its annual profits drop sharply.

Reuters
first published: Feb 23, 2021 03:41 pm

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