Office Vacancies
- Thread starter Darts
- Start date
I work for a big company.
Lots of our work for my division is for road design.
And a lot of that money for that comes from governments.
That has understandably moved to health care through the pandemic.
So what was once about 290 at my site is now down to about 190.
And not all at the office all the time any more.
My office site is in the burbs.
In three months we close this five year old site.
Leave that idle space in the hands of a REIT with a sagging share price.
And move to merge with another division's office not too far from us, but in a different direction.
There the merged folks will sum to about 500
Fitting into about 340 desks of flex office.
So that reflects not everyone comes to the office all the time.
We also consolidated 4 offices in the core of Toronto to a new flex office just a skip north of Union Station.
And have closed about 40 smaller offices across the country,
But we do employ about 10k in Canada.
Lots of our work for my division is for road design.
And a lot of that money for that comes from governments.
That has understandably moved to health care through the pandemic.
So what was once about 290 at my site is now down to about 190.
And not all at the office all the time any more.
My office site is in the burbs.
In three months we close this five year old site.
Leave that idle space in the hands of a REIT with a sagging share price.
And move to merge with another division's office not too far from us, but in a different direction.
There the merged folks will sum to about 500
Fitting into about 340 desks of flex office.
So that reflects not everyone comes to the office all the time.
We also consolidated 4 offices in the core of Toronto to a new flex office just a skip north of Union Station.
And have closed about 40 smaller offices across the country,
But we do employ about 10k in Canada.
COVID is/was a gamechanger on where we do our work. Many more employees working from home. They like it and would not work in an office again or only for part of the week, if given a choice. Logically, much of the vacant office space will be converted to residential.
What was the percentage before covid, during covid, immediately after covid, and now? Need to know what the pattern is.
