Only one business in ten said that it thought pre-Covid levels of office working would returnLeading employers are to reduce their office space by the equivalent of 14 skyscrapers after the pandemic, according to a report. The cuts will come as businesses shift to hybrid working and will save property costs, the report suggested. SponsoredA survey of 258 of Britain’s biggest companies by PwC, the accounting group, found that half planned to cut the size of their property portfolios and of these a third said that they expected to reduce their footprints by more than 30 per cent. It is the equivalent of nine million sq ft, or 14 Walkie Talkie buildings, the 37-floor City of London skyscraper, PwC said. The figures lay bare potential changes to working habits, but also the pressure on landlords and the Square Mile.

Source: The Times June 03, 2021 23:01 UTC