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Sadly reminds me of Barnett Bank's sale to Bank of America. Barnett was the largest bank in FL and one of the largest in the south until it was acquired by BOA in 1997. They had $42B in assets and were a Fortune 500. And now there's nothing left of Barnett except a few wealthy families that donate to charities locally.
Not that it's any consolation, but NC's banks cleaned up coast to coast. Adecco may be headed to Atlanta, but it's no substitute for losing SunTrust.
The real news is the biggest expansion of corporate offices is the unused bedroom in your house. Working from home was already a thing before covid. Now it is reality. A lot of this will continue after covid. Why? Because it is cheaper and it works. While office environments won’t completely go away, we are entering a new era in work environments. This will make city office space much less important, perhaps leading to less occupancy and thus less office construction.
It's not necessarily cheaper or easier for employers.
Home offices cost something, as people might want larger homes and need to keep them presentable. It'll be interesting to see who has the upper hand in who pays for that...workers might be inclined to eat the cost because they want to WFH, but it may depend on the profession. Workers living in cheaper areas might be cheaper.
IT costs are apparently significant for companies that support WFH workers.
Part-time WFH involved some duplication.
And operationally, it certainly has pluses and minuses, and people who do well or don't do well.
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Originally Posted by pnwguy2
The real news is the biggest expansion of corporate offices is the unused bedroom in your house. Working from home was already a thing before covid. Now it is reality. A lot of this will continue after covid. Why? Because it is cheaper and it works. While office environments won’t completely go away, we are entering a new era in work environments. This will make city office space much less important, perhaps leading to less occupancy and thus less office construction.
Thats going to lead to a lot of the larger and more expensive cities emptying out.
ServiceMaster Brands is relocating its headquarters from Memphis, TN to Atlanta, GA after being sold by Terminix for $1.55 billion to private equity firm Roark Capital. https://www.bizjournals.com/atlanta/...elocation.html
Chicken Salad Chick announced the relocation of its headquarters from Auburn, Alabama, to Atlanta, Georgia. The move is slated to take place during the first quarter of 2021. https://www.qsrmagazine.com/news/chi...arters-atlanta
It's not necessarily cheaper or easier for employers.
Home offices cost something, as people might want larger homes and need to keep them presentable. It'll be interesting to see who has the upper hand in who pays for that...workers might be inclined to eat the cost because they want to WFH, but it may depend on the profession. Workers living in cheaper areas might be cheaper.
IT costs are apparently significant for companies that support WFH workers.
Part-time WFH involved some duplication.
And operationally, it certainly has pluses and minuses, and people who do well or don't do well.
Nah as time goes on WFH is proving to be much cheaper for companies. I know mine is saving on a ton of admin costs and we're becoming even more automated with the new software and blockchains coming out. We've had more people use our services in 2020 than in any other year.
Eventually we MIGHT rent a flex-office space for needed in-person meetings but so far we haven't "needed" in-person meetings so who knows when that happens. If anything, the parents with kids are just waiting for them to go back to school in order to enjoy WFH more. Those seem to be the only ones where WFH has been a challenge at times.
On a related toy note: Hasbro is HQ'd not far away in Providence.
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