Business is changing.
HSBC to cut office space by 20% and air travel by half.
I wrote about this on a number of occasions. The shift due to technology was accelerated by COVID. However, now that companies see the advantages, there is no going back. This is going to have an impact on a number of industries.
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well, i am glad to see that working from home is an option many companies are willing to explore. i got a part-time job recently and they require I only show up twice a week.
what do you think the impact of this move will have on real estate. most overpriced locations would likely be reevaluated as more and more people move away from highbrow locations in search of more affordable accommodation/homes
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Most things will reevaluate and most commercial real estate will probably fail. I think it will be a shift towards smaller spaces and maybe the big places will be bought by Amazon for more space.
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Yea I just don't think people will be going back to what life was before the pandemic. The workers don't want to move back to the office and for some of the poorer people, the unemployment payments just make more sense.
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I believe that's going to be a trend. The place I work for cut office space in 50% and air travel by 80% or so. I believe the air travel will increase again when COVID is more under control but the office space won't.
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