Schroders PLC will become the first major London-based firm to not require workers to come to the office five days a week after it released an internal memo saying staff can continue working from home even after the end of the pandemic, The Telegraph reported.
Before the COVID-19 crisis, the investment manager's staff could only work from home once a week but the new working arrangement will give staff more flexibility over work schedule and location, sources told The Telegraph.
CEO Peter Harrison recently said in an interview that the pandemic had pushed flexible working forward 20 years as it "changed society irrevocably" and altered the dynamic between society and business to the point that offices are now more of a place where teams can convene, whereas the bulk of work is done by staff from home.
Only about 100 out of the company's 2,500 staff returned to their offices in August after Schroders reopened them.
The government has been concerned that changes in working conditions brought by the pandemic will become permanent, City A.M. reported. Before Schroders' changes in work arrangements, London Mayor Sadiq Khan urged companies to reconsider their move, saying empty offices can become problematic for the city's economy.