Nearly three-quarters of City firms are reviewing how much office space they really need following a boom in home working during the pandemic, new research shows.
The latest CBI/PwC financial services survey found 74% of companies – particularly banks and insurance firms – have been taking stock of their office requirements in the hope of either using the space differently, or reducing it.
Around 88% of the 133 financial services firms polled for the survey said the Covid-19 pandemic had resulted in a greater shift towards remote working. Nearly half of those surveyed said that more than 90% of their workers could feasibly do their job without being in the office. Read more…..
Chart of the Day
What began as a health crisis has become an economic catastrophe. Coronavirus has thrown the viability of entire industries into doubt and exposed the vulnerability of globally connected businesses, and the jobs, companies and communities they support.