IWG has revealed its revenue dropped to £583.3 million in the third quarter of this year, compared to the £680.3 million from the year prior.
Over the summer, lockdown restrictions in the UK were loosened and people began returning to offices. But as COVID-19 cases have started skyrocketing again, national restrictions were once again announced in September, leading employees to retreat back into their homes.
However, IWG’s CEO Mark Dixon has revealed that a boost in sales in China and Korea shows optimism for the future of the industry.
The UK has also experienced some promise, with demand for suburban offices growing. Dixon predicts that a combination of home working, local offices and coming into headquarters every so often will be the future.
“Whilst market conditions remain very challenging, the future of flexible working looks very positive,” the company said. “There is clear evidence of increasing interest in flexible working as companies address how their employees will work in the future, the advent of further potential pandemics and the need to preserve liquidity by limiting capital and operating expense. As a result, we are now starting to see some improvement in our sales activity.”