While banks have begun the slow, careful process of returning employees to the office, most executives aren’t expecting everyone to come back.
A survey by professional services firm Accenture found that about 61 percent of bank executives don’t expect to call all employees back to the office. And more than 40 percent of those surveyed are also planning to reduce their real estate footprints accordingly.
As mentioned in one of my previous Boston real estate blog posts one bank in Beacon Hill has already closed its
Earlier this month, JPMorgan Chase had to pause plans to return workers to the office in Columbus, Ohio, as cases in the state jumped. Citigroup says it is unlikely to return even half of its workers to the office until a vaccine is available.
For office landlords, increased space requirements per employee may offset the decreased number of employees somewhat.