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NEW: From airlines to Starbucks, a massive part of the U.S. economy hinges on white collar workers returning to the office.
But the move to remote work doesn’t show signs of stopping anytime soon. http://read.medium.com/CZc1nwl
But the move to remote work doesn’t show signs of stopping anytime soon. http://read.medium.com/CZc1nwl
These office workers supported small businesses like dry cleaners, gyms, food carts, florists, and pharmacies.
But they were also among the most vital customers and source of revenue for a slew of larger, less obvious businesses. http://read.medium.com/CZc1nwl
But they were also among the most vital customers and source of revenue for a slew of larger, less obvious businesses. http://read.medium.com/CZc1nwl
A less-conspicuous victim of the remote revolution is companies such as Xerox, whose revenue fell 34.6% last quarter as many offices locked down and did not proceed with planned or possible equipment purchases. http://read.medium.com/CZc1nwl
Meanwhile, in the air, white collar workers had kept a parallel economy buzzing, with business travel accounting for 60% to 70% of all airline traffic.
While leisure getaways have also been obliterated, it turns out the bigger punch is the Zoomification of business meetings.
While leisure getaways have also been obliterated, it turns out the bigger punch is the Zoomification of business meetings.
On its quarterly earnings call in late July, Starbucks attributed the loss of some $2 billion year on year to deserted urban office corridors.
Starting off their day at home, remote workers are simply not queueing up in the same numbers. http://read.medium.com/CZc1nwl
Starting off their day at home, remote workers are simply not queueing up in the same numbers. http://read.medium.com/CZc1nwl
