Manhattan Packing More Workers Into Less Office Space: Chartby
Companies are seeking to pack more workers into smaller spaces, a trend that’s having an impact on office occupancy in Manhattan.
There were 1.35 million people working in office jobs in Manhattan at the end of last year, the most ever, according to data released this week by Cushman & Wakefield Inc. Yet fewer square feet were in use than in 2001, the last time employment was even close to the current level. Traditional tenants such as investment banks are banishing cubicles and designing offices in the style of the city’s young technology and media companies, which enables more workers to squeeze into less space.