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The share of US companies planning to slash their office space is plummeting

·3 min read
The share of US companies planning to slash their office space is plummeting

Only 9% of large US companies, defined as 10,000 employees or more, anticipate their office portfolios will get “significantly smaller” over the next three years, according to a new report from CBRE, a commercial real estate company. The initial reaction for many companies was remote work was going well, so people are going to spend less time in the office and need less space, says Julie Whelan, the head of occupier research for the Americas at CBRE. For instance, although tech companies have announced remote-friendly policies, they continue to build sprawling campus-like offices in the pandemic.