HSBC, Goldman Sachs, Barclays staff in Hong Kong return to office as social distancing measures are eased
- Banks gradually allow employees to resume working from their offices but will review staffing policy as the situation evolves
- Hong Kong has mostly controlled the coronavirus outbreak and there has been no virus-related death since mid-March
HSBC Holdings, Goldman Sachs and Barclays Bank allowed more employees to resume working from their offices in Hong Kong from Monday as the city relaxes social distancing curbs after largely containing coronavirus infections.
HSBC said 30 per cent of its Hong Kong staff could return, according to a memo seen by Bloomberg News and confirmed by a bank spokeswoman. Goldman Sachs has been gradually ramping up returns and now has a third of its employees, or almost 600 people, back as of Monday, a spokesman said. At Barclays, about 270 workers, or 60 per cent of staff, are working from their offices, according to Anthony Davies, chief executive of the Hong Kong branch.
The Asian financial hub, which posted a record economic decline in the first quarter, last week moved to loosen curbs on social gatherings and reopen closed schools in stages. Hong Kong had not reported a locally transmitted case in more than 20 days up to Monday, and has not seen a virus-related death since mid-March.
“In tandem with the resumption of normal business activities in Hong Kong, we will allow more colleagues to return to office starting next week and expect to continue this phased approach in the coming weeks,” according to the HSBC memo dated May 6.
Global banks with operations in Hong Kong are returning to their offices ahead of their European and North American colleagues, where virus cases and fatalities continue to mount, albeit at a slower pace.