General Business Updates and News

[tomh009]

I wonder how office vacancy would look if it was taken as a function of the number of empty seats, instead of unrented spaces. My office is downtown, and with our hybrid WFH policy we probably only average 40-50% occupancy on a given day. I don't really think this metric is important, but it could predict some workplaces choosing to downsize in the future, which could impact the overall vacancy rate.

Yes ... from what I have heard, Oracle has probably less than 10% occupancy, and that's after reducing their space by half. One thing is that if you don't have desks for everyone, you still need to build in buffer to allow more people than expected to come in, so 50% might actually be reasonable. And the other question is what the company's future policy or strategy is for remote/office work; this will vary by company.

Our team is hybrid, but we are all on the same schedule, in the office Tue/Wed/Thu. On Mondays and Fridays, there are only a few people in the office, but on the other three days we are close to 100% desk occupancy. I personally feel this works much better than having everyone on a random hybrid schedule, but that's just me.