Half the world's biggest companies are downsizing office space amid hybrid working.

This is an insider story.

Here we go.

Defined as half the world's largest companies defined as those with over 50,000 employees

plan to downsize their office space by 10 to 20 percent by 2026.

That's a real number by the way. As hybrid working becomes more prevalent

while many companies are embracing hybrid work 31% are adopting an office first

approach, the shift in office space strategy is driven by a broader range of business factors beyond the pandemic,

with companies seeking to optimize their office usage and offer flexibility to employees.

However, 55% of all surveyed companies anticipate increasing their office footprints in the next three years, particularly mid-sized companies.

So bigger companies are downsizing.

Smaller to mid-sized companies are getting more office space.

Tom, when you see this, what do you think about with this article?

Well, the first thing is, you know, your government under the cover of COVID, you know,

sort of was pushing the agenda for work from home and forcing lockdowns

and what they have unwittingly done is triggered a waterfall and I'm speaking to you

Joe Biden is triggered a waterfall that is about to be a calamity in commercial real estate

Because now the companies are saying well maybe I can't there's two sides to it

There are companies that are asking people to come back to work and we're seeing those

announcements every day. Apple says people got to come back to work, Amazon says, and all the people get upset.

Well then what you don't see is underneath it all is the companies that say well

maybe I can make some of the remote work for cost reasons and those people are

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