City of London expects most workers to return

The City of London's financial hub has resembled a ghost town for the past 12 months, as office workers embraced working from home.

But the UK financial district's political leader said Tuesday (March 30) that she believes most workers will return to their offices after the pandemic.

Catherine McGuinness is policy chair at the City of London Corporation.

She told BBC radio she was confident that trade would return for the cafes, pubs, restaurants and other businesses that rely on the usual crowds of office workers.

But she said there would probably be changes to the way people work as a result of the pandemic - like cutting down days in the office and changing working hours.

London dominates the world's $6.6 trillion-a-day foreign exchange market.

It is also the biggest center for international banking and the second largest financial technology hub in the world, after the United States.

A survey published last week by KPMG showed most major global companies no longer planned to reduce their use of office space after the pandemic, though few expect business to return to normal this year.

The boss of Goldman Sachs Group earlier this month told thousands of employees who have been mostly working from home that he hopes to have them back in the office again by this summer.

However, Britain’s Nationwide Building Society and Santander UK have scaled back on their office space, with Nationwide allowing its 13,000 office-based staff to work from anywhere in the country.

Major banks including HSBC and Lloyds have also announced plans to trim office space.