Daily Archive: October 22, 2020

76% of American CEOs say they may shrink office space

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 More

TASS cites FSB By Reuters

MOSCOW (Reuters) – A terrorist bomb attack was thwarted in Moscow on Thursday, the TASS news agency cited Russia’s Federal Security Service (FSB) as saying.

A person who had been planning to cause an explosion at a government building on behalf of an international terrorist group had been detained, the FSB said.

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