7,000 People In A Building May Be Thing Of The Past

The coronavirus pandemic could permanently change how many bankers function, Barclays CEO Jes Staley said to media. "There will be a long-term adjustment in how we think about our location strategy...the notion of putting 7,000 people in a building may be a thing of the past," he told reporters after the bank reported a fall in first-quarter profits. Staff including investment bankers could work instead from branches as well as other locations, he said. Social distancing rules will limit how many workers can return and impose restrictions, such as limiting elevators to two people at a time, he said. The comments by the head of one of Britain's biggest banks show how business leaders are contemplating making possibly permanent alterations to work methods.