22nd May 2025 – (London ) HSBC Holdings Plc has informed its retail bank employees in the U.K. that their bonuses could be reduced if they do not meet the required level of office attendance. Sources familiar with the matter revealed that HSBC UK, based in London and responsible for the bank’s British retail and local commercial banking operations, has set a minimum mandate of three days per week in the office. Employees failing to adhere to this policy risk facing a decrease in their pay, as per the undisclosed sources.
When approached for comment, a spokesperson for HSBC UK declined to provide any statement on the matter.
This move by HSBC to incentivize a return to the office aligns with actions taken by other financial institutions as they phase out remote work policies established during the pandemic.
One of the U.K.’s leading retail banking institutions, Lloyds Banking Group Plc, announced earlier this year that office attendance would play a role in determining staff bonuses. However, this policy at Lloyds applies solely to a select group of senior employees, unlike HSBC UK’s directive, which covers workers under office-based contracts.
On a broader scale, major Wall Street firms and regulators have been advocating for a return to pre-pandemic attendance norms, discarding hybrid work options. JPMorgan Chase & Co. enforced a five-day office workweek in March, asserting that it is the most effective approach to running a company. Similarly, the US Securities and Exchange Commission instructed its employees to resume full-time office work from mid-April onwards.
In its communication to employees, HSBC UK detailed the utilisation of internal attendance data in compensation assessments. The bank introduced a hybrid working policy 18 months ago, requiring employees to spend 60% of their working hours either in the office or directly engaging with clients.
HSBC UK, a prominent player in the British retail banking sector, employs approximately 23,000 individuals across its various offices and branches. The bank’s headquarters were relocated from London to Birmingham in 2017.
