Major global companies to reduce office space in coming years.
TL;DR Summary
Around 50% of major global companies plan to reduce their office space in the next three years, with American cities, particularly San Francisco, most at risk of having empty offices due to a rise in remote work and falling property values. However, 55% of all surveyed companies expect to increase their footprints over the next three years, led by smaller firms. The pandemic has caused a shift in the commercial real estate market, with companies re-evaluating their real estate needs and considering factors such as flexible working and energy efficiency standards.
- Half of the biggest global companies plan to cut office space. US cities will suffer most CNN
- Half of the world’s largest firms plan to cut office space—usually by 10-20%—survey from top real estate firm says Fortune
- Big global employers plan modest cuts to office space: Knight Frank Reuters
- Half of big multinationals plan to cut office space in next three years Financial Times
- Half of big international firms to cut office space in next three years – survey The Guardian
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
3 min
vs 4 min read
Condensed
87%
720 → 91 words
Want the full story? Read the original article
Read on CNN