Swiss bank UBS has decided to sublet two floors at its landmark London headquarters after its flexible working from home policy left it with too much office space, according to people with knowledge of its plans.
UBS moved into 5 Broadgate, a sprawling 12-storey “groundscraper” overlooking Liverpool Street station, in 2015. It then moved the majority of its 6,200-strong UK workforce into the building, which is one of the biggest in the City.
But last summer, the bank rolled out a global flexible working policy that allows up to two-thirds of its 73,000 staff worldwide to permanently mix home and office work.
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