IBM is planning to discontinue lease agreements at nearly half of its offices in major cities across the country, people familiar with the development told ET, as the US-based technology leader sees the work-from-home model becoming mainstream and a significant number of employees to continue working remotely.
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Some analysts told the paper that IBM’s plan to reduce leased office space is an effort to cut costs.
“There is a lot of pressure in terms of top line and bottom line for all IT Services companies, so at some stage, the need to reduce costs is critical. All companies are focusing on automation and there are a large number of employees working from home now,” Sanchit Vir Gogia, chief executive of Greyhound Research, told the paper.
Analyst:
Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Digital & Technology Research & Advisory firm. To read more about him, click here.
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