HSBC To Slash Office Space By 43% As COVID Ushers In Hybrid Work (UK)


There is absolutely no way to avoid a great deal of pain coming to the commercial real estate market as companies dump or are planning to eliminate office space as the pandemic has changed the office’s role. 

HSBC Holdings Plc is the latest company that will reduce its “real estate footprint” by 40% over the long-term, Group Chief Operating Officer John Hinshaw said in a conference call with analysts on Tuesday, according to Reuters

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