Apr 6, 2022
BNP Allows Staff in Europe to Work From Home Half the Time
(Bloomberg) -- BNP Paribas SA reached one of the most comprehensive work-from-home deals among major banks, with as many as 132,000 employees given the option of doing their jobs from home for up to half the week.
Staff in 22 countries across the region can decide to work from home every week for as much as 2.5 days or to adopt a more flexible rhythm, the lender said in a statement Wednesday. Employees will need to be in the office at least one day per week.
The deal, which runs until 2024, extends a framework that was already applicable in France as lenders in the region adopt flexible arrangements to boost morale and save costs. Banco Bilbao Vizcaya Argentaria SA said last month it will permanently allow employees to work from home as much as 40% of their time, though that deal only covered about 12,000 employees in Spain.
The push for more flexibility contrasts with Wall Street, where firms increasingly push for a full return to office. Bank of America Corp. plans to bring all its U.S. workers, both vaccinated and unvaccinated, back to the office by June, Bloomberg reported Tuesday.
BNP agreed to help cover the costs related to remote work and meals for staff that decide to work from home regularly. The bank’s European operations can sweeten the agreement to meet specific needs of their workforce.
©2022 Bloomberg L.P.