Over 25% of financial services will continue working from home despite urge for return to normality

Financial services of the City of London will not return to offices due to coronavirus concerns despite Prime Minister Boris Johnson urging a return to normality.

According to a review by Theta Financial Reporting, large city-based firms will not be sending the majority of staff back into their offices just yet.

According to the research, only 800 of the 6,000 Goldman Sachs employees in London will return to the office while less than 2,000 of JP Morgan's 12,000 staff are back.

The research found that 26% of Brits say their company’s finance teams won’t be returning to the workplace in July and will continue to work from home the majority of the time instead.

It also found that almost 30% of business leaders said they had streamlined their team permanently due to the pandemic crisis and discovered that some roles were surplus to requirements.

Around 24% of Brits said their bosses have not explored flexible working options to help colleagues return to work even though 70% of City-based workers do not feel comfortable commuting.

The research was published after the PM said on Friday that there should be attempts for a “significant return to normality” by Christmas as he announced a fresh easing of lockdown restrictions in England.

Chris Biggs, Managing Director and Founder of Theta Financial Reporting, commented: "This research demonstrates the clear desire for people both in the Capital and finance teams not to return to their pre-Covid working environments, regardless of the calls from the Prime Minister to return to normality before Christmas.

"Many businesses have adapted to working away from the office and with so many people caring for vulnerable relatives, friends and children.

"Business leaders would do well to realise this and adapt now to pivot their business, remove unnecessary overheads and plan for a post-Covid future."