BNP reaches remote work agreement with 132,000 employees

(Bloomberg) — BNP Paribas SA achieved one of the most comprehensive remote job offerings among major banks, giving more than 132,000 employees the option to do their jobs from home until the middle of the week.

Staff in 22 European countries can decide to work from home every week for up to 2.5 days or adopt a more flexible pace, the bank said in a statement Wednesday. Employees must be in the office at least one day per week.

The agreement, which runs until 2024, expands 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 that it will permanently allow employees to work from home up to 40% of their time, although that agreement only covered about 12,000 employees in Spain.

The drive for greater flexibility contrasts with Wall Street, where companies are increasingly pushing for a complete return to the office. Bank of America Corp. plans to bring all of its U.S. workers, both vaccinated and unvaccinated, back to the office by June, Bloomberg reported Tuesday.

BNP agreed to help cover costs related to remote work and meals for staff who choose to work from home on a regular basis. The bank's European operations can modify the agreement to meet the specific needs of its staff.

BNP's closest rival Société Générale SA signed an agreement with the unions last year that allows bankers to work from home up to three days a week, although that agreement only covers French employees and has not yet been extended to Europe.

Last month, the Swiss bank UBS Group AG decided to allow some of its US employees to work remotely full-time. The bank expects 10% of its local workforce to accept the option.

Original Note:

BNP Reaches Work From Home Deal With 132,000 Employees (1)

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