BNP Paribas to Let Some Bankers Work From Home Half of the Time

(Bloomberg) -- BNP Paribas SA is set to allow some bankers to work from home half of the time, joining European peers such as Deutsche Bank AG and UBS Group AG in allowing more flexible work on a permanent basis.

BNP is drawing up plans to offer more flexibility to staff, including several remote work scenarios, people familiar with the plans said. Each of the bank's units will be able to choose the option that best suits their employee's circumstances, the people said, asking not to be named because the details are private. When compatible with their positions, some bankers will be allowed to work from home two days one week, and three days the other, the people said.

The plan, which should be signed by unions in the coming weeks, is set to come into effect in September, the people said.

“In the framework of our social dialog with trade unions, negotiations are ongoing at the group level in France to broaden remote work, but also to adapt it to the specificities of each profession,” a spokeswoman for Paris-based BNP said in an email. “Remote work will of course be voluntary-based, and will depend on each employee's personal environment.”

BNP's closest rival, Societe Generale SA, in May said it would let bankers work from home up to three days a week, while HSBC Holdings Plc is also giving its French employees options to work from home part-time.

Global banks are diverging in their approach to remote work as vaccine rollouts enable more employees to return to the office. While some, including JPMorgan Chase & Co. and Goldman Sachs Group Inc. are pushing to get their bankers back behind their desks, others such as Citigroup Inc. and UBS AG are being more flexible in a bid to improve morale and get a competitive edge in recruiting and retaining staff.

Italy's UniCredit SpA has said it plans to permanently allow non-branch employees to work from home 40% of the time. The bank is working on a plan that will give the option to administrative and headquarters staff to work from home approximately 2 days a week on voluntary basis, while employees at branches may opt for one day a week from home.

In Germany, Deutsche Bank AG has also said it's working on plans to allow staff to work from home up to three days a week.

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