HSBC is encountering a serious desk shortage issue as it readies to bring more employees back to the office, having previously downsized its office footprint significantly. With an anticipated move to a new office near St Paul's Cathedral in 2027, there will only be enough desks for staff to work one and a half days per week, which is below the new directive of at least three days. This shortage affects other regions too, including India and China, and could incur costs of around £150 million annually. The situation poses challenges for new CEO Georges Elhedery amid ongoing restructuring efforts.
HSBC is currently grappling with a significant office space shortage as it prepares to bring staff back, despite having reduced its office footprint significantly post-pandemic.
HSBC's aggressive post-pandemic downsizing strategy has led to a serious desk shortage, with new demands for employee presence creating a costly office space dilemma.
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