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Summary
- Airline major British Airways said it would continue its flexible remote working structure after lockdown restrictions are eased.
- The airline is also exploring selling its Waterside HQ as part of its cost-cutting and capital raising measures.
- Long-term hybrid work models are much in demand with global companies such as Spotify, Twitter, Ford, who are encouraging its employees to work remotely.
International Consolidated Airlines Group (LON: IAG) owned airline British Airways said on Friday that it would continue its flexible remote working structure after lockdown restrictions are eased, with employees’ work locations being split between their homes and the company’s head office.
The move is part of British Airways’ plans to cut costs after the airline industry was severely impacted by the pandemic. BA has already slashed over 10,000 jobs and is raising capital to buffer against the ongoing pandemic-related uncertainties.
BA added that it is in the exploratory stage of selling its Waterside HQ office near Heathrow Airport. The office accommodated up to 2,000 of its staff before the lockdown began. The company said it aims to identify a version of the hybrid working model which will best suit its needs.
IAG’s (LON:IAG) share prices were at GBX 209.90, down by 2.73 per cent, on 19 March (10.41 AM GMT+1, while the broader index FTSE 100 was at 6,732.64, down by 0.69 per cent.
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In this article, we take a look at some other global companies transitioning to long-term flexible work structure post-pandemic:
- Spotify (NYSE:SPOT)
US-based music streaming giant Spotify (NYSE:SPOT) announced on 12 February that it will move to a flexible work policy on a permanent basis, Work From Anywhere policy. The policy will allow its 6,550 staff to work from home, office or coworking spaces. Employees will also be given more location choices, allowing for greater flexibility in the town, city, or country an employee chooses to work from. Spotify’s shares closed at US$271.73, down by 4.10 per cent on 18 March.
Also Read: Shift in Work Pattern and Role of Technology Companies, FTSE AIM Tech Stocks in Focus
- Twitter (NYSE:TWTR)
US-based microblogging platform Twitter’s (NYSE:TWTR) CEO Jack Dorsey said the company would also allow remote working on an indefinite basis which was announced back in May 2020, according to the Washington Post.
The company had initially planned transitioning to permanent remote work as a two-year project. However, the remote work model was accelerated due to the pandemic. Twitter’s shares closed at US$66.72, down by 4.96 per cent on 18 March.
- Ford (NYSE:F)
On 18 March, American legacy car manufacturer Ford (NYSE:F) announced its new hybrid work model set to be rolled out from July. As per the new model, employees will be allowed to work both in person and remotely. About 30,000 employees will be able to continue working remotely with the flexible hours decided upon by the employee and their managers. The move would be applicable to all Ford employees with non-place dependent work. Ford’s shares closed at US$12.49, down by 1.58 per cent on 18 March.
Also Read: Ford Motor focuses on EVs; says semiconductor chip shortage to hit Q1 production
- Salesforce (NYSE:CRM)
US-based cloud computing giant Salesforce.com Inc (NYSE:CRM) announced on 9 February that the company will continue offering remote work flexibility even after it is safe to resume working in an office.
According to the company’s ‘Work from Anywhere’ policy, employees will be offered three types of work options, which include flex, fully remote and office based as per their choices. The flex option will allow employees to work in an office one to three days per week for more collaborative, team-based or client-focused and challenging tasks. The company said most of its employees worldwide would have this option.
Fully remote will be reserved for workers who either live far from the company office or for roles which do not require a physical presence in an office. A small portion of its employees, up to 49,000, will be office based, working in an office four to five days per week. Salesforce.com Inc’s shares closed at US$209.48, down by 1.71 per cent on 18 March.
