BP con­sid­ers halv­ing its of­fice space

The Daily Telegraph - Business - - Business -

◆ Oil ti­tan BP is mulling plans to dra­mat­i­cally re­duce the amount of of­fice space it uses around the world, writes Ed Clowes.

The com­pany may close up to half of its com­mer­cial prop­er­ties as it tran­si­tions some 50,000 em­ploy­ees to re­mote work­ing and more flex­i­ble work­places, ac­cord­ing to re­ports.

Covid-19 has rocked de­mand for com­mer­cial real es­tate as mil­lions are forced to work from home to curb the spread of the virus.

BP has al­ready an­nounced it will re­duce its head­count by 10,000, and has long planned to fo­cus on re­new­able power as the golden age of oil fades. BP is ex­pected to make a de­ci­sion on what to do with its of­fices in the com­ing months, The

Guardian first re­ported.

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