(Bloomberg) — London firms are ditching their unwanted office space at an even faster rate than in the financial crisis.
More than 1 million square feet (92,900 square meters) has become available for sublet since June, the equivalent of two Gherkin skyscrapers, according to research by real-estate data company CoStar Group Inc. Businesses are offering up the excess space as the pandemic keeps large swathes of employees working from home.
The trend is so far only limited to London: the city’s second-hand space surged by 21% in the period, compared with just a 1% increase for the rest of the U.K.
“The success of home working, coupled with ongoing concerns around public transport and coronavirus infections, has led many firms to reconsider their office space needs,” Mark Stansfield, head of U.K. analytics at CoStar, wrote in a note to clients. “Some of this impact is now being seen
A JPMorgan equities trading employee tested positive for COVID-19, according to Bloomberg, leading the bank to send some Manhattan workers home ahead of a planned return to the office next week for more workers at the banking giant.
The employee reportedly worked on the fifth floor of JPMorgan’s 383 Madison Ave. building, according to Bloomberg, citing an anonymous person who knew of the matter, which was not public prior to Tuesday.
JPMorgan employees were told on Sunday about their colleague testing positive for the coronavirus, Bloomberg reported.
The reported infection comes ahead of orders from JPMorgan’s C-suite for their senior sales and trading employees to return to the office September 21.
Bloomberg reported Monday that JPMorgan’s worker productivity plummeted among younger workers at the beginning
“This is a form of government’s concern for low income people to have livable houses, and at the same time employ them as the workers in the house renovation,” the Public Works and Public Housing Minister Basuki Hadimuljono said in a statement here on Sunday.
The minister expressed hope for the program to improve people’s quality of life to live in a healthy and comfortable house suitable for living.
The program was run under the cash for work scheme, to reduce unemployment and improve people’s purchasing power.
The program was run in 449 districts/cities for house improvement and 151 district/cities for new house construction, with total budget of Rp4.68 trillion.
As of September realization of
LAGUNA BEACH, CA — Business has been steady for the Lock Shop in Laguna Beach, and in the time of coronavirus that’s almost all anyone can ask for. It has been a roller coaster since March, when California shut down, owner Sandi Federico tells Patch.
The coronavirus pandemic struck in March and caught the world off-guard. Forced to shut down and establish safety protocols to keep their doors open. Many, including personal care service workers, were forced to stop working indefinitely. Others, such as home repair workers, were forced to change the way they do things in order to keep others safe.
“We’re doing good now,” Federico tells Patch, “but it was real slow in April and May.”
The Lock Shop has been in Laguna Beach since 1962. Federico took over the business in 1995, after moving to south Orange County. Now a full-time Laguna Beach resident, she has watched