Tech companies demanding an end to remote work

Even video conferencing platform Zoom – a major enabler in the sudden shift to remote working as a result of the pandemic has asked its employees to return to the office announcing it would be taking a “structured hybrid approach” to work.

“It doesn’t come as much of a surprise to see a significant increase in technology companies returning to the office,” Andrew Mawson, founder of AWA, said. “Most major tech companies are mandating some form of in-office work including Meta, Amazon, Apple, and more recently, Zoom. However, we continue to believe we have reached a steady state on hybrid working. Savvy employers are using the new reality to become more efficient, improving desk use and reducing their real estate needs. We expect this to result in a gradual build-up of empty office space over the next 5-10 years as leases expire, with a resultant downward pressure on rents and asset values.”