'Smart working only one day a week', SocGen's breakthrough

Société Générale has asked its employees working in hybrid mode to return to the office four days a week, according to an internal memo reported by Bloomberg News. "I would like to inform you of the executive committee's decision to rapidly harmonise our smart working policy within the group, on the basis of a maximum of one day per week," Société Générale CEO Sławomir Krupa wrote.

Most SocGen employees were previously allowed to work from home two days a week, although some were already back in the office four days a week. The French bank has over 119,000 employees worldwide.

Many banks are now imposing strict provisions for returning to the office, reversing the smart working practices adopted during the pandemic. HSBC Holdings Plc recently told retail banking staff in the UK to expect lower bonuses for not being in the office. Wall Street banks, including JPMorgan Chase & Co., have asked employees to return to the office five days a week. HSBC is considering asking staff to report to the office three days a week. Krupa wrote in the note about the need for the bank to align working practices among the business teams. "Developing a performance culture also involves strengthening knowledge sharing," including through informal interactions, he wrote. "Some entities may decide not to use work from home for certain professions," Krupa added. In the coming weeks, the Paris-listed bank's management will start discussions with employee representative organisations about the changes.