The Return-to-Office Revival: Same Old Power Trip, New Excuses
It’s happening again. After a brief period of flexibility, City firms are rolling back the work-from-home perks that so many of us came to rely on. Just yesterday, the Financial Times ran a headline that could have been straight from a corporate memo: “City firms order workers back to the office as WFH perks end.” The message is clear—remote work was always temporary, and now it’s time to get back in line.
But let’s be honest with ourselves. Is this really about collaboration or productivity? Or is it something else entirely? For many, it feels like a power play—a way for executives to reassert control after a few years of uncertainty.
The New Rules: Because They Can
Take a look at what’s happening across the City. Firms like Panmure Liberum and Deutsche Bank are now dictating which days you can work from home—no more stringing together long weekends. UBS wants you in on Mondays, Fridays, or both. Peel Hunt has bumped up to four days in the office, and Man Group wants everyone in five days a week. Even at Santander, where there’s “no specific requirement,” the unspoken rule is that you’re expected to show up most days.
It’s not just about presence, either. There’s a new kind of office politics at play, with managers keeping tabs on who’s showing up and when. The so-called “TWaTs”—those who only come in on Tuesdays, Wednesdays, and Thursdays—have become the subject of office jokes, but there’s a real sense that flexibility is being squeezed out.
The Desk Dilemma
Ironically, after years of shrinking their office footprints, many companies now don’t even have enough desks for everyone they’re insisting return. Barclays is sending some employees to co-working spaces, while HSBC is scrambling to find thousands of extra desks after realizing their new headquarters is too small. Even giants like JPMorgan and BBVA are running out of space. It’s almost comical: you’re told you must return to the office, but there might not be a desk for you when you get there.
What’s Really Driving This?
Let’s not pretend this is all about “synergy” or spontaneous hallway chats. The truth is, there’s a lot of money tied up in office real estate, and those investments need to be justified. For some managers, it’s also about comfort—they’re used to leading teams they can see, not ones they have to trust from a distance. And with demand for London office space at its highest since the financial crisis, there’s no shortage of pressure to fill those buildings.
Workers Aren’t Having It
But here’s the thing: workers have changed. Only 42% of UK employees say they’d comply with a five-day-a-week office mandate, down from 54% just a couple of years ago. Hybrid work is the new normal for many, with the average UK worker still spending nearly two days a week at home—the highest in Europe. People aren’t just resisting out of stubbornness; for a lot of us, remote work has become essential for balancing family, health, and sanity.
The Real Risk: Losing Good People
Even the experts are saying it: the real question isn’t whether companies can force people back, but whether they can afford to lose the talent that refuses to return. That’s why some of the top law firms and consultancies are quietly sticking with hybrid models—they know their best people have options.
Is This Really About Performance?
Let’s be real: showing up isn’t the same as performing. If office attendance is the new measure of success, what does that say about trust? About valuing results over appearances? It’s hard not to feel like the real test is how much you’re willing to comply, not what you actually accomplish.
The Bottom Line
This push to bring everyone back to the office isn’t about productivity. It’s about power, appearances, and maybe a little bit of nostalgia for the old ways. But the world has changed, and so have workers’ expectations. The question now is whether companies will adapt—or just double down on the same old playbook.
Sources:
1 FT: City firms order workers back to the office as WFH perks end
2 City AM: Demand for London offices hits post-financial crisis high
3 The Workers Union: UK workers push back against full-time office mandates as resistance hardens
