Convene Furloughs 400 Workers
Bisnow reported this week that “after announcing plans to lay off a fifth of its workforce because of the coronavirus crisis, flexible workspace provider Convene is readying to furlough hundreds more.” According to the report, 421 people will be furloughed starting March 30, only a week after the company let go 150 employees. No additional job losses are planned at the moment.
Knotel to Open Its Spaces for COVID-19 Emergency Needs
Commercial Observer reported this week that Knotel has started to offer its workspace locations to governments around the world for COVID-19 emergency needs. According to the report, Knotel could also convert its empty real estate to medical use or to house nAtional Guard operations. The move is called “Spaces for Cities” and no agreements with local governments have been finalized.
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Transaction Slump in London since COVID-19 Outbreak
HubbleHQ reported this week that flexible workspaces using its platform have reported a significant drop off in activity late last week. According to estimates, operators are resorting to discounts and free rent after transactions slump by around 90% in London following the coronavirus outbreak. HubbleHQ further reported that it is seeing between 5% to 15% of the typical number of people working from flexible space locations; with that number reducing daily.Share this article