HSBC (HSBC) is weighing plans to bring more employees back to offices, a move that could raise its real estate costs by about $200 million annually, Bloomberg News reported Monday, citing people familiar with the matter.
The additional expense would affect locations including London, Bangalore, Hyderabad, and Guangzhou, Bloomberg quoted the sources as saying.
HSBC is reportedly considering a shift to at least three office days per week, as part of a broader effort to end pandemic-era hybrid work policies.
CEO Georges Elhedery is expected to decide soon on whether to secure extra space, the news outlet reported.
The projected spending could reportedly challenge HSBC's goal of saving $1.5 billion annually through ongoing restructuring.
HSBC did not immediately respond to MT Newswires' request for comment.
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