Fujitsu is to permanently shutter one half of its office real estate in Japan and will ask 80,000 locals to work from home permanently as it redefines work culture internally in the wake of the COVID-19 outbreak.
Under the auspices of the Work Life Shift campaign, Fujitsu is to study data of how employees use offices, with a view of giving them more tools and options to work from home, at hubs or be more mobile.
“For employees in Japan, this latest initiative will mark the end of the conventional notion of commuting to and from offices, while simultaneously granting them a higher degree of autonomy based on the principle of trust,” Fujitsu said today.
Thursday, July 9, 2020
It's time to short commercial real estate
One result of the Kung Flu is that companies are learning that their employees are able to work effectively from home, via video conference and messaging/collaboration applications. We're beginning to see the implications of this for commercial office space:
File this under "Well, duh!"
Fujitsu is fixin' to save a boatload on office rent. That savings will go 100% to the bottom line. Probably their employees will be happier, too - the Tokyo subway system is famously crowded, and not having to do 90 minutes each way on that will be a nice bonus for Fujitsu's employees. It will be a financial bonus, too, since they won't have to buy subway tickets. It's sure as shootin' Fujitsu won't be the only company that decides to do this.
The losers will be the companies that rent office space. And the subway system.
Obligatory disclaimer: I work for a company that makes video meeting apps. It's interesting, having done this for a decade; it's gone from "we're living in the future" to "well duh, everyone wants this".
Posted by Borepatch