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Bank Shot: Financial Giants' Return to Manhattan Gives Smaller Businesses Hope


Yves here. One, or in this case, even two robins do not make a spring. But they are indicators. We had warned that the “work at home” trend was not likely to be as durable as many who’d bought homes well away from their former offices would like to think. As we indicated, most CEOs felt that there was a significant productivity loss in having their staffs dispersed. Whatever gains there might be from fewer distractions were offset by many types of collaboration being more difficult, particularly meetings of more than a very few people, as well as the loss of serendipitous casual information-sharing. And what looks like gossip often has an upside, in that learning about personalities and potential or actual scandals helps workers navigate internal bureaucracies. ....

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Battered US office market perks up with workers trickling back


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After a number of false starts over the past year, corporate America is finally bringing workers back to the office.
The widening availability of vaccines means that employers are setting plans for returns. Exxon Mobil said on Tuesday that its Houston-area workers would be back full time in May. JPMorgan Chase, meanwhile, is opening its U.S. offices next month, with its full staff expected back in July on a rotating basis.
Already, offices are slowly starting to fill up across the country as social distancing-rules ease and vaccines accelerate, bringing optimism that more Americans will soon be able to resume their pre-pandemic daily life. About 26% of office workers in major cities were back at their desks as of April 21, the highest share in about five months, data from security company Kastle Systems show. ....

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