Half of big companies plan to cut office space in next 3 years

Nearly half of the companies surveyed are also planning to change their headquarters in the next three years. However, a majority of smaller companies are planning to expand their office space.

“There have been lots of people talking up change, but we haven’t seen a lot of evidence of it. I think we are now at that tipping point,” he said. “Change in the occupier market is a three to six year play, not a three to six month play.” Roughly a third of companies have opted for fully or mostly in-person work, according to the Knight Frank research, which covered companies worldwide in industries ranging from tech to financial services. The majority, or 56 per cent, of companies have settled on aFollowing a round of layoffs, ride-sharing group Lyft Inc. in April reversed a policy to allow fully remote working and told employees to come back to the office part-time later this year.

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