We knew it was a bad time for commercial real estate. We didn’t imagine it was this bad.
Among CEOs, 76% told Fortune their company will need less office space in the future. And 28% say they’ll need a lot less office space. That’s the finding from a Fortune survey of 171 CEOs in collaboration with Deloitte between September 23 to 30.*
If those reductions come to fruition, it could have a big impact on everyone from restaurant owners in central business districts to the financial institutions holding commercial real estate.
CEOs are finding that without a draining commute or office distractions, some employees are thriving from remote work. Among CEOs we surveyed, 40% say virtual working has increased employee productivity.
On the flip side, 31% say it has decreased productivity. Fortune Analytics has found the results are split among age groups, with Gen Z struggling the most to … Read the rest