76% of American CEOs say they may shrink office space

Not just American CEOs. We just gave up 2/3rds of our office space and are entirely remote. We still have the office mostly as a place that 'anchors' the company in a legal sense but in the future that might just become a PO box at this rate. Ironically, in November last year we just expanded and then within two months that turned out to be a bad decision. Fortunately I always keep leases short even if that is a bit more expensive per month it gives more flexibility and that has been an asset several times over the last 35 years already.

So, you&#x27;re saying nearly a quarter of American CEO&#x27;s won&#x27;t even say they &quot;may&quot; reduce office space by some amount? That is so vague (and non-binding in any case) that I am kind of surprised they didn&#x27;t get 99%, with only the CEO&#x27;s of office space subleasing companies not joining in.<p>I have WFH for several years now, I&#x27;m not opposed to it, but the idea that it&#x27;s going to become the &quot;new normal&quot; seems, at the least, premature. My guess is that the long-term impact will be less than currently expected.

Alternative title: &quot;76% of people large portion of whose jobs is to represent the company as cool, trendy, and modern say they will do a trendy thing.&quot;<p>There will certainly be some change after the pandemic ends, but it is extremely difficult to estimate how much.

Why I think offices will just catch back on is because they will come down in price and because those who work closer to the people at the top of the company will be those promoted, this will make the pressure of working in an office greater again.<p>Maybe this move is also the end of middle management and traditional CEOs?<p>I hope I’m wrong about office life catching back on because of all the emissions being saved by remote work...

There is going to be a lot of pain but overall I think this is very good for the economy. Rents that went to landlords will be redirected to more productive purposes (or profit, which when distributed to shareholders will be reinvested).

This process is well underway in SF where formerly booming business districts have turned into veritable ghost towns. Winter is coming for commercial real estate.

This works well for people who already have a social network at their job. Very challenging to build relationships in a zoom environment, feel bad for all the new folk at their jobs.

well we lost most of our contractors when the pandemic hit but the new move has been to outsource and starting with support groups. since they own their buildings it may not be as simple to dispense with the added space but this does not mean they cannot simply shut down entire floors to save money.<p>The fallout people keep missing is the loss of tax revenue. Either the direct property tax as values drop to in some cases income taxes shifting to other locales. Throw in the reduction in spending at local associated businesses like restaurants and stores which also results in lower sales tax revenue and eventually staffing. It is quite the cascade effect that will happen.

Conversely, our CEO signed a five-year lease last year and is trying to get everyone back in the office under specious pretenses. Always ask for a force majeure contract clause!

Whats happening at Apple&#x27;s spaceship? Is it empty? Can I squat there?

Remember when Eric Schmidt thought COVID-19 was going to increase demand for commercial real estate?

I&#x27;ve never been a big proponent of remote work. I&#x27;ve always had bosses who were &quot;butts in seat&quot; (with accommodations every now and then) and that&#x27;s how I&#x27;ve always been. But the past 9 months I&#x27;ve been working from home and I&#x27;ve enjoyed it. But as soon as the vaccine is widely available and I&#x27;ve taken it, my butt will be back in my office seat, provided it&#x27;s still there.

More downsizing. Where will it end? An office for ants? How can we expect workers to labor if they can&#x27;t even fit in the building?