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 (NASDAQ:MSFT) Teams and Google (NASDAQ:GOOGL) Hangouts have greatly enhanced the ability to work remotely and move staff out of offices.
Barclays (L:BARC) 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."