Germany goes to legislate Work from Home.
Germany goes to legislate Work from Home (WFH). Now, it becomes more challenging as most companies will just ask everyone to come to the office.
The German government will push ahead with plans to introduce a legal right to work from home, when possible, and to limit home-working hours. Labor minister Hubertus Heil says the move will reinforce workers' rights and work-life balance. Critics say the idea could weaken workers' ability to engage in collective bargaining. Heil: "The question is how we can turn technological progress, new business models and higher productivity into progress not only for a few, but for many people. How do we turn technological progress into social progress?" (Fortune newsletter)
As that happens, Brexit is changing the playbook for UK banking. Yes, many banks are moving assets to Europe, reports Fortune.
EY reports that financial services companies operating in the U.K. have so far shifted $1.6 trillion in assets, plus around 7,500 workers, to the European Union ahead of the end-of-year implementation of Brexit. As there is no trade deal with the EU yet, there's a good chance that financial services firms in London will lose their ability to serve customers in the EU.