REUTERS/Hannah BeierLONDON, June 6 (Reuters) - Half of large multinational companies plan to reduce office space as they adjust to hybrid working patterns, although the cuts are likely to be modest as few plan to go fully remote, a survey from real estate agents Knight Frank showed on Tuesday.
Knight Frank said 50% of employers with more than 50,000 staff intended to reduce office space, typically by 10% to 20% in the next three years, as they reassess their needs following the introduction of remote working during the COVID-19 pandemic.
But at companies with up to 10,000 staff split across different countries, most expected to increase office space.
Mat Oakley, head of commercial research at Savills said demand for office space in London had increased, and flexible working appeared less of a challenge than previously thought.
"There are definitely challenges for office demand but these have been largely overstated particularly when you take into consideration employment growth," Oakley said.
Persons:
Hannah Beier LONDON, Knight Frank, Tim Armstrong, Antony Antoniou, Robert Irving Burns, Mat Oakley, Savills, Oakley, Suban Abdulla, David Milliken
Organizations:
FMC Corporation, REUTERS, Bank of England, British, Land Securities, P, Thomson
Locations:
Philadelphia , Pennsylvania, U.S, Britain, Mat, London