Major employers scrap plans to cut back on offices

Financial service sector driving office absorption in Nairobi

A survey by the global accounting firm, KPMG now shows that most major global companies no longer plan to reduce their use of office space after the coronavirus pandemic, though few expect business to return to normal this year,

Only 17 percent of chief executives plan to cut back on offices, down from 67 percent the last survey conducted in August last year.

KPMG says either downsizing has already taken place, or plans have changed as the impact of extended, unplanned, remote working has taken a toll on some employees.

Many offices in London, New York and other western cities have been empty for months after health authorities ordered staff to work from home where possible, but the roll-out of vaccines means some firms are now planning for a return.

Most chief executives said they wanted vaccination rates to exceed half the population before they started to encourage staff back to the office.

The survey, which took place between January 29 and March 4 covered 500 firms with sales of over 500 million dollars based in 11 countries including the United States, China, Japan, Germany and Britain.

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