Nationwide shifts 16% of workforce to remote status

NEW YORK (Reuters) – Nationwide Mutual Insurance Co has decided to shift about 4,200 employees to a work-from-home status to reduce costs and increase competitive prices, a move brought about by the ability to work remotely during the coronavirus lockdowns.

The Columbus, Ohio-based insurer said in a statement on Wednesday that the move involves employees in five cities and will mostly be done by Nov. 1. About 2 million square feet of office space will be affected, spokesman Joe Case said.

The move brings to 9,000 people, or 30% of Nationwide’s workforce, who will work remotely, Case said.

Apps such as Zoom, Microsoft Teams and Google Hangouts have greatly enhanced the ability to work remotely and move staff out of offices.

Barclays Chief Executive Jes Staley said on Wednesday the bank will not revert fully to how it operated before the coronavirus outbreak, as “putting 7,000 people in a building may be a thing of the past.”

(Reporting by Herbert Lash; Editing by Daniel Wallis)