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UK News Lloyds Bank tells most of its staff to work from home until SPRING

02:15  25 october  2020
02:15  25 october  2020 Source:   dailymail.co.uk

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Nearly 50,000 UK-based staff at banking giant RBS Group have been told they will not go back into the office until 2021, just days after Boris Johnson said employers should begin encouraging people back into the workplace. More than 50,000 RBS staff to work from home until at least September.

More than three-quarters of Royal Bank of Scotland’s 65,000 staff will These are people working in what the bank described as regulated roles, often handling confidential client data RBS tells its staff to carry on working from home until next year. Banking group says it takes safety seriously days

a person standing in front of a store: MailOnline logo © Provided by Daily Mail MailOnline logo

Lloyds Bank has told most of its 65,000 staff to work from home until spring at the earliest.

It wants them to stay away from the office for at least the next five months following Government guidance urging employees to work remotely if they can.

The move by the bank will come as a blow to the City of London, where it employs thousands.

a woman walking down a sidewalk in front of a store: Lloyds Bank has told most of its 65,000 staff to work from home until spring at the earliest. A bank branch is pictured above © Provided by Daily Mail Lloyds Bank has told most of its 65,000 staff to work from home until spring at the earliest. A bank branch is pictured above

About two-thirds are working from home, but staff are still serving customers at its 890 branches.

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The work - from - home option applies to 200,000 full-time and contract employees attached to the company’s headquarters in Mountain View, Calif Facebook’s current plan is keep its 48,000 workers at home through the end of the year, though CEO Mark Zuckerberg said in May that he expects as

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Lloyds said: ‘In line with guidance from the UK and national governments, and given the majority of our colleagues are working from home, we have asked them to continue to do so until at least spring.’


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However, the shift by big businesses to work from home is adding to fears of another recession.

Catherine McGuinness, chairwoman of the City of London’s policy committee, said it was vital to bring people back to offices to support the economy, adding: ‘My big fear is… we may see the economy freezing over the winter, just when we need a recovery for saving jobs.

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The US Securities and Exchange Commission has told staff at its headquarters in Washington DC to work from home after an employee was treated on Monday Sweden’s central bank , which is not a member of the eurozone, said on Monday that Martin Floden, one of its deputy governors, had tested

Barclays has bumped up its cash pile for bonuses so far this year to £745 million – almost a tenth more than it set aside for the same period in 2019.

American investment banks with thousands of staff in the UK, including Goldman Sachs, JP Morgan and Morgan Stanley, have also set aside larger bonus pools this year. Investment banks have pocketed chunky fees from helping firms raise cash to weather coronavirus.

Banks will finalise bonus payouts at the end of the year, but any sign of bumper bonuses during the Covid crisis is likely to be controversial. It will also anger UK bank shareholders, whose dividends stopped in March.

The Bank of England will decide later in the year whether the dividends can restart. Banks were told to drop them to protect against an economic storm.

‘I am really worried about the supporting businesses – the bars, the cafes, the hairdressers – and how they will manage to survive.

‘The economic impact will be phenomenal if we’re not careful.’

Chris Williamson, an economist at the business consultancy IHS Markit, warned: ‘The pace of economic growth slowed in October to the weakest since recovery from the national lockdown began.’

Other large firms are closing offices or asking employees if they want to work from home for ever.

The consultancy Deloitte could shut four offices, which would leave 500 people working from home, and investment manager Schroders told its 5,000 global staff in August they could work where they chose.

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