HSBC has reportedly allowed all its employees in Hong Kong to work from home and office alternatively.
According to an internal memo sent to staff, eligible employees can work from home for up to four days in a week, Bloomberg reported.
The memo read: “We are constantly looking to develop overall flexibility in how we work.
“In recent employee exchanges and surveys, some of you have expressed an interest in a blend of in-office and home working.”
A spokeswoman for HSBC confirmed the plan.
The UK lender is offering flexible working options as the Covid-19 pandemic transforms the role of offices, the report added.
In addition to the four-day per week homeworking, HSBC is also offering a “flexible office worker” option that allows staff to work from home for up to two days a week.
HSBC is offering a ‘flexible home worker’ option, which allows employees to work from home permanently.
Moreover, the bank is also providing its staff an option to work from office permanently.
For employees working from home for at least two days a week for a minimum of one year, the bank is offering a HK$2,500 ($322) one-off allowance to set up a suitable home office.
HSBC employs 30,000 people in Hong Kong, which is said to be its biggest market.
Last month, HSBC CFO Ewen Stevenson said that implementing remote working for some of its staff could help reduce office costs.
Recently, DBS Group Holdings also reportedly allowed all its employees around the world to work from home for up to 40% of the time.
Earlier this month, Standard Chartered unveiled its plan to provide 90% of its 85,000 employees flexible work options over the next three years.