HSBC TO CUT OFFICE SPACE BY 40% OVER YEARS
HSBC plans to nearly halve its office space globally over the long term as part of a cost-cutting drive set out on Tuesday, in a further sign the pandemic could mean permanent changes to working patterns.
HSBC aims to cut its office footprint by 40 per cent over the long-term, the bank said in an analyst presentation.
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. Retained buildings will be used more flexibly, Quinn said.
Several banks have said they will adopt more hybrid working after most of their staff switched to working from home, but few have spelled out a specific space target.
HSBC's Asia-focused rival Standard Chartered moved to permanent flexible working in November, later signing an agreement with flexible workspace provider IWG.
Hyderabad: Keystone Basketball Academy teams finished on top in the under 18 years boys category of the Zero
Gravity 3x3 Basketball Tournament conducted by Keystone Basketball Academy,
Hyderabad. KBA cagers emerged winners with a clean slate winning all their games in the eight-team round robin format while KBA Thunders with five wins and two losses took the second
spot. In a two way tie, St Patrick’s girls were declared winner as they, along with Srila, finished their engagements with three wins and a defeat. By virtue of
defeating Srila in the last match, St Patrick’s brought about a tie and took the top
position. The cohesion, teamwork and individual brilliance coupled with tactical strategy had KBA cagers roll over their opponents
with consummate ease and hardly faced any challenge with their tall players Lakshman and Subhash controlling the board. Shooting guard Akhil Korupolu and Akhil Karijela were quick to
grab any opportunity.