Expense-Cutting Triggers Office Space Decisions


Expense-Cutting Triggers Office Space Decisions


Once slow to let go of office space, management teams are being pushed along by macroeconomic conditions.

Some companies have shrunk their real estate footprints to reflect a need for fewer or smaller offices. More employees working remotely sparked the early wave of that. But now, that’s not the only reason organizations are abandoning spaces. Macroeconomic forces, including inflation, have nudged reluctant management teams into making decisions on office space reductions.

The switch to remote work can’t be discounted. Two-and-a-half years after the start of the pandemic, remote work seems to have some staying power. EY’s Future Workplace Index survey released this week found that more than 70% of employees are working from home at least two to three days a week...


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RSK: Not going to be pretty in the larger space office market. Subleasing may be a temporary fix but at what cost.

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- - Volume: 10 - WEEK: 49 Date: 11/29/2022 10:05:07 AM -