State Street grapples with Covid-19 HR concerns
State Street Luxembourg seems to have ridden out the first wave of the coronavirus crisis. Yet what of the return to work and a potential secondary shock? We asked Eduardo Gramuglia Pallavicino, State Street Luxembourg’s country head.
‘It all worked quite well. The regulators were quite pragmatic, simplifying some of the processes and allowing workload to be balanced across locations,’ Mr Gramuglia Pallavicino said confidently. ‘These changes were necessary, as in March transaction volumes were double the norm.’
Covid-19 - Luxembourg’s cross-border labour supply at risk
The opportunity of teleworking is one of few silver linings to the coronavirus crisis. Especially for the 25,000 cross-border workers in the financial sector, it has been a relief. Will they be willing to resume their tough daily journeys to work after the lockdown?