1 in 10 companies has already reduced office space because of COVID-19

Management Today research: Another 36 per cent are considering it.

by Adam Gale

The office has always been more than just a place for people to work. It tells people something about your business and its values and culture if you’re based in a brutalist ziggurat, a snazzy WeWork or just the cheapest box the FD could find.

But offices don’t come cheap. Earlier this year, rates in Manchester averaged £37/sq ft; in London, prime West End slots would set you back £112/sq ft.

If we are all embracing hybrid working, a regime whereby a substantial proportion of your office-based workforce operate remotely at any given time, then you may wonder why you shouldn’t just downsize and save yourself a few bob. And as the Management Today/Hays hybrid working survey shows, you wouldn’t be alone.

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