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Tech goes long on Office space

Netflix’s CEO Reed Hastings Deems Remote Work ‘a Pure Negative’: He told the WSJ that he hasn’t seen any benefits from people working at home. The company’s employees will be back in the office probably six months after a vaccine. In the future, he thinks the five-day workweek will become four days in the office, while one day is virtual from home. (WSJ)

  • Amazon is planning a major expansion in Bellevue, Washington. The company signed leases for 2 million SF of office space that is currently under construction, and plans to build a new skyscraper in downtown Bellevue. (SeattleTimes)
  • Google walked away from a plan to rent space in Dublin for as many 2,000 workers. The tech giant had been in talks to rent about 202,000 SF of space at the Sorting Office, close to the Irish capital’s south quays, adding to its array of sites in the city. (Bloomberg)

Meanwhile… Wall Street calls employees back 

Almost six months after the coronavirus pandemic emptied office towers, JPMorgan Chase executives have discussed compelling people to come back into the city and other places where Covid-19 has subsided. The bank already asked some new analysts to report into offices in New York and London to get up to speed in person after online classroom training. 

  • Be SmartGoldman Sachs advised recruits to station themselves near its offices should they be called in. And Blackstone Group has encouraged investment professionals to return. (Bloomberg)

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