Mitsubishi UFJ Financial Group (MUFG) has closed a $163-million, five-year syndJapanese bank MUFG is rolling out hybrid working for its staff in Europe after nearly 100% of its employees in the region worked from home at the outbreak of the Covid-19 pandemic.
The bank, which has around 2,000 employees in London, unveiled a new hybrid working policy, which will allow staff the flexibility to work around their “personal rhythms” between the office and home working, depending on the division they work for.
MUFG follows Societe Generale, Standard Chartered, Deutsche Bank and HSBC in rolling out formal hybrid working programmes for employees in the wake of the crisis. HSBC has already cut 10% of its real estate portfolio and downsized 77 offices as part of its push to more flexible working, it said during its second quarter earnings call on 2 August.
Meanwhile, US investment banks including JPMorgan, Goldman Sachs and Morgan Stanley have pushed for a wider return to their London offices as Covid-19 restrictions have eased.
The Japanese bank said that 98% of its staff in Europe, the Middle East and Africa (EMEA) have worked from home during the pandemic, which has shown that they can continue to work with colleagues and serve clients while enjoying increased work-life balance, it said.
John Gerard Williams, chief human resources officer for EMEA at MUFG, said in a statement: “This non-prescriptive approach will enable our employees to adapt to a working style which best fits their personal circumstances, whether that is an increased need for flexibility, a working parent with children, or someone with care duties.”