BP considers halving its office space
◆ 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.