Half of UK firms to cut office space

Half of UK businesses expect to reduce the size of their office space, with a third looking to cut it down by 30%, according to a new report. 

PricewaterhouseCoopers (PwC) surveyed 258 C-Suite executives and over senior employees of the UK's largest companies and their proposed cuts roughly equated to nine million square feet of space.The finding indicates an appetite for 'hybrid work' models in the UK, where employees mix remote and in-office shifts, with around 71% of the respondents planning to increase investment in technology to enable more agile work models over the next two years. 

As such, only 10% of those surveyed agreed that the level of employees working in the office will match that of pre-pandemic levels, despite taking into account the speed of the vaccine roll out. The consensus from the survey among the senior executives is that staff will continue working remotely for two or three days a week. 

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