ViacomCBS’ Post-COVID Work Life: 70% of Staff to Use Hybrid Model

ViacomCBS is looking ahead to a post-coronavirus world, one in which approximately 70% of its more-than-20,000 employees will work at least partly from home, according to an internal memo from CEO Bob Bakish that Variety has obtained exclusively.

The move toward a hybrid work model allows staffers more flexibility, but it also has financial advantages. Following the merger between Viacom and CBS, the combined company is looking to reach an ultimate goal of $750 million in annualized run-rate synergies over the next three years.

A part-remote work environment will help “to reduce our real estate footprint and keep our costs controlled so we can continue to deliver on our strategic priorities and achieve our business goals,” per the email that went out to staff Thursday. ViacomCBS has been public about its desire to offload certain commercial properties, and is still exploring a sale of its Black Rock building, which serves

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HSBC lets Hong Kong work 4 days a week from home: Report

  • HSBC staff in Hong Kong can choose to work up to four days a week from home, per an internal staff memo seen by Bloomberg.
  • The banking giant has given staff three options: working primarily from home, primarily in the office, or full-time in the office, per Bloomberg.
  • HSBC is based in London, but has around 30,000 staff in Hong Kong, where it generates more than half of its profits.
  • In February, HSBC announced plans to cut $4.5 billion in costs by 2022.
  • Visit Business Insider’s homepage for more stories.

Banking giant HSBC has told its 30,000 staff in Hong Kong that they can now work up to four days a week from home, according to an internal staff memo.

The banking giant told staff they had three options, per Bloomberg. 

“Flexible home workers” would work primarily remotely, spending up to four days a week at home.

“Flexible office workers,”

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HSBC Lets Hong Kong Staff Work Up to Four Days a Week From Home

(Bloomberg) — HSBC Holdings Plc is offering its Hong Kong staff greater flexibility to work from home, in the latest sign the pandemic is transforming the role of the office in business life.



a tall building in a city: The HSBC Holdings Plc headquarters building, center, stands illuminated at dusk in Hong Kong, China, on Monday, April 27, 2020. HSBC is scheduled to release first-quarter earnings results on April 28.


© Bloomberg
The HSBC Holdings Plc headquarters building, center, stands illuminated at dusk in Hong Kong, China, on Monday, April 27, 2020. HSBC is scheduled to release first-quarter earnings results on April 28.

The London-based lender, which counts Hong Kong as its biggest market, is now allowing eligible staff to work as many as four days a week from home, according to an internal memo and guidelines seen by Bloomberg. An HSBC spokeswoman confirmed the plan, which offers varying degrees of flexibility for employees.

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“We’re constantly looking to develop overall flexibility in how we work,” the memo sent to staff on Nov. 4 said. “In recent employee exchanges and surveys, some of you have expressed

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Remote work part-time seen as the norm after Covid

Parents work from home with their two sons due to the Coronavirus outbreak in Paris, in 2020.

Xavier Laine | Getty Images News | Getty Images

The chief executive of German software company said feedback from customers indicates that companies will let staff spend half their time working from home after the coronavirus pandemic passes.

Speaking to CNBC’s Geoff Cutmore, Oliver Steil of TeamViewer questioned whether companies would allow their staff to work from home all the time, instead saying that he believes most firms will adopt a “hybrid” approach.

Steil’s company builds software that’s designed to let businesses manage computers and other devices remotely.

Social media giant Twitter said in May that some of its workforce can work from home into perpetuity if they want. Facebook said in August it will allow employees to work remotely until July 2021.

But not every task that companies want or need to

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The old way of handing out corporate hardware doesn’t work anymore

Choose your weapons.
Enlarge / Choose your weapons.

Aurich Lawson / Getty Images

With many organizations now having a significant portion of staff working remotely—and as things are looking, this is going to be the longterm reality—the old model of how companies support a “mobile” workforce is not exactly holding up well.

I’ve already covered some of the issues related to having a home-based workforce in previous articles in this series. Some companies are now giving employees an allowance to upgrade their home office to something more suitable for longterm habitation. And we’ve already gone over the network security and architecture challenges that come into play as well.

But as we push closer to a full year of full- or part-time home work with no end in sight, the old model for what is considered “mobile worker” support on the hardware front is starting to show

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What The Vaccine Really Means For Work From Home Stocks

Work and learn from home stocks have had a solid run this year, as Covid-19 drives demand for connectivity, collaboration, and cybersecurity-related software. For perspective, our indicative theme of Work And Learn From Home Stocks is up by over 190% year-to-date on an equally weighted basis. However, a Coronavirus vaccine is looking like a real possibility in the coming quarters, following the surprisingly strong efficacy data for Pfizer’s
PFE
vaccine candidate which was released earlier this week. So what does this mean for work from home stocks? While

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Study Says Employees Who Work from Home Should Pay a New Tax

A new study says that employees who decide to continue working remotely after the pandemic is over should pay a tax to help low-income workers.

According to the study from Deutsche Bank, called “What We Must Do to Rebuild,” employees who work from home quickly collect financial benefits, such as reduced costs for travel, food, and clothing. The report advises that the employer would pay the tax if it doesn’t supply the employee with a permanent desk; otherwise, the employee would be responsible for the tax.

“Our calculations suggest the amounts raised could fund material income subsidies for low-income earners who are unable to work remotely and thus assume more ‘old economy’ and health risks,” Jim Reid, global head of fundamental credit strategy and thematic research at Deutsche Bank, said in the study.

With an average salary of $55,000 and a tax rate of five percent, the Deutsche Bank approximates

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Workers Should Pay 5% ‘Privilege’ Tax To Work From Home After Covid

Topline

As brightening vaccine prospects tease a return to pre-pandemic normalcy and employers map out when and how remote workers return to the office, analysts at Deutsche Bank are proposing a “privilege tax” on post-pandemic work from home to subsidize lost wages for low-income workers. 

Key Facts

Deutsche argues that remote workers contribute less to the economy’s infrastructure while still receiving its benefits, and says that a 5% tax on individuals levied against their wages on days they decide to work remotely would “leave them no worse off than if they had chosen to go into the office.”

As a basis for the argument, the bank says working from home is financially rewarding thanks to “direct financial savings” on expenses such as

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Dads, Commit to Your Family at Home and at Work

In Salt Lake City, Richard, a food distribution representative, started keeping a journal on his phone to remember the little moments he has spent with his kids since he began working from home while his wife, Melissa, works as a nurse in a Covid-19 unit.

Lloyed, a software developer and startup founder whose wife is an emergency room physician and professor, says that one of his key takeaways from the current crisis is the importance of family. “Bonding with the kids — not just taking them to school — and providing emotional support for my superhero partner after [her] long shifts is definitely something I’ve come to appreciate.”

So much has changed for families across the United States over the past six months. Some parents now work from home, while others brave their way to essential workplaces. Childcare providers are closing, schools fluctuate between remote, hybrid, and in-person options, and

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Remote workers should pay a “work from home” tax

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Deutsche Bank is proposing a 5% tax on employees who work from home after the pandemic is over. (Photo: Getty Images)

Employees who choose to work remotely should pay a tax to help those workers on low incomes who cannot, said a research note from Deutsche Bank.

According to the research report titled “What We Must Do to Rebuild,” employees who work from home receive immediate financial benefits, including reduced costs for travel, food and clothing. 

The report suggests the employer would pay the tax if it does not provide the worker with a permanent desk. Otherwise, the employee would pay the tax.

“Our calculations suggest the amounts raised could fund material income subsidies for low-income earners who are unable to work remotely and thus assume more ‘old economy’ and health risks,” said Jim Reid, global head of fundamental credit strategy and thematic research at Deutsche Bank, in

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