The Evening Read: Working from home just as effective, but it may hurt pay and promotion, HR execs warn

As the City is gradually coming out of lockdown, a range of large companies and financial institutions announced in recent weeks that hybrid working is here to stay. HSBC became the latest big financial services firm to confirm it is making some sweeping structural changes to its working pattern as it adjusts to the post-pandemic reality. The financial giant announced plans last week to scale its office space back by nearly 40 per cent as part of cost-cutting measures. CEO Noel Quinn said it is “not necessary” for staff to be in the office five days a week.