Tech companies are ending leases and consolidating offices as remote work is here to stay
On a Saturday in April, several executives from SoundCommerce rented a U-Haul, drove it to their office in Seattle and loaded up the truck with stand-up desks, 48-inch monitors and various other gadgets and personal belongings. For two days, they traversed town, dropping the items off at employees’ houses and apartments.

With the coronavirus forcing non-essential employees to shelter in place, it had been weeks since any the start-up’s 20 or so staffers had worked at the office. It was clear they wouldn’t be going back.

Key Points
  •     Start-ups across the country are letting leases expire and preparing for an extended period of remote work.
  •     Credit Karma closed its San Francisco office earlier than expected, and will eventually move all Bay Area employees to its new Oakland office, though some will be able to work from home permanently.
  •     “About eight weeks ago, companies said to us that once things reopen, people will want to go to work but no one wants to go to work five days a week,” Industrious CEO Jamie Hodari said

RSK: Here is a trend we have been seeing with the WFH people. After being home for 4 months with family, especially kids and pets...serious workers want some private time and space. They are now renting one room suites at a low rent so they have a getaway place worry free from covid and the family din.

- - Volume: 8 - WEEK: 30 Date: 7/21/2020 9:27:20 AM -