A Knight Frank survey of 350 companies found half of large companies plan to downsize office space. That's been sparked by a move towards hybrid working, but trends are different in smaller companies. The largest firms – defined as having more than 50,000 employees – anticipate cutting 10% to 20% of their office space by 2026. Most of those companies are moving towards hybrid work, but 31% are implementing an "office-first" approach. But while the larger companies are scaling back on office space, 55% of all the surveyed companies said they expect to "increase or greatly increase" office footprints over the next three years.

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Persons: Frank, That's, —, Knight Frank, Fortune, Salesforce, Dr Lee Elliott, Elliott Organizations: Service, Times, CNN Locations: London