HSBC exits or downsizes 77 offices as hybrid work takes hold

By Denise Wee and Harry Wilson
Published 2 Min Read

Bloomberg

HSBC Holdings said it has exited or downsized its presence in 77 buildings since January last year, a sign of the growing impact on the office market as more and more companies transition to new ways of working.

The London-headquartered bank has reduced its global office footprint by about 10% and is on track to cut it by about a fifth by the end of this year, according to an analyst presentation Monday after the bank reported second-quarter results.

Denise Wee and Harry Wilson
From Bloomberg

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