London Daily

Focus on the big picture.
Thursday, Sep 18, 2025

New reasons to think the work-from-home revolution is overblown

New reasons to think the work-from-home revolution is overblown

One year after the Covid-19 pandemic forced millions of workers to start clocking in from home, many companies are thinking about how to bring their employees back into the office.

A number of firms think the past 12 months have proven the merits of remote work, and have pledged more flexible schedules. But increasingly, there are signs the work-from-home revolution could have its limits.

What's happening: Most major global companies no longer intend to trim their physical footprint after the pandemic, according to a KPMG survey of 500 CEOs published Tuesday. Only 17% of CEOs expect to make reductions, versus 69% in August. A mere 30% said they would have most employees working remotely two to three days a week.

"This suggests that either downsizing has already taken place, or plans have changed as the impact of extended, unplanned, remote working has taken a toll on some employees," KPMG said in its report.

A survey of 1,450 corporate executives in North America published by Accenture (ACN) last month also showed that the shift to home working may not be as dramatic as first expected.

Executives estimated that 18% of employees had permanent flexible arrangements before the pandemic hit. After the pandemic, they predicted that would increase to just 25% on average.

"I expected that number to be higher," Jimmy Etheredge, Accenture's CEO of North America, told me this week.

Etheredge thinks the number will increase as discussions continue. At his company, which plans to keep flexible arrangements in place at least through the summer, remote work will likely be managed on a project-by-project basis.

While some customers in sectors like retail have been showing up every day — and may expect their consultants to do the same — others have indicated they're comfortable managing virtual professional relationships.

"Really, it will come down to client by client," Etheredge said.

Some companies are moving ahead with plans to cut back on expensive real estate, including three of Britain's biggest banks. But the surveys are an indication that not everyone is willing to make a gamble on more permanent remote work options just yet.

Watch this space: The pandemic has also renewed conversations about mental health, forcing employers to be more responsive to concerns about burnout and overwork, Etheredge observed.

That was apparent this week, when Goldman Sachs (GS) CEO David Solomon pledged to keep Saturdays free for investment bankers and speed up the hiring of junior employees after a group of analysts described "inhumane" working conditions, including 95-hour weeks and instances of workplace abuse.

"This is something that our leadership team and I take very seriously," Solomon said in a voice message sent to staff Sunday.

White House aides prep $3 trillion jobs package for Biden


White House advisers are expected to present a two-part, $3 trillion jobs and infrastructure proposal to President Joe Biden as soon as this week, according to two people familiar with the plan.

The latest: The proposal, which Biden's top advisers have been deliberating over for weeks, would be segmented into two separate parts — one focused on infrastructure and clean energy, and a second focused on what's being termed the "care economy," with a focus on key domestic economic issues, my CNN colleague Phil Mattingly reports.

The pitch would be a major step toward enacting key elements of the jobs agenda that Biden laid out during his campaign, with a suite of potential tax increases on corporations and the wealthy as options to cover some of the costs.

White House officials stressed that no final decisions have been made. Biden still has to review the proposals and plans to consult heavily with Senate Democratic Leader Chuck Schumer and House Speaker Nancy Pelosi about the scale and legislative sequencing of the next key pillar of his agenda.

But as details of Biden's next big legislative priority take shape, investors and businesses are watching closely.

On the radar: Executives from major oil companies including Chevron, Exxon, BP, Shell and ConocoPhillips met virtually Monday with Biden's national climate advisor Gina McCarthy, an industry source told my CNN Business colleague Matt Egan.

Following the meeting, the American Petroleum Institute pledged to cooperate with the Biden administration on the climate crisis.

"We are committed to working with the White House to develop effective government policies that help meet the ambitions of the Paris Agreement and support a cleaner future," API CEO Mike Sommers, who participated in the meeting, said in a statement.

Movie theaters think they can start making money again


Cineworld will begin a phased reopening of its Regal theaters in the United States next month.

The company, which is the world's second largest movie theater operator, said Tuesday that it will open some theaters on Apr. 2, with showings of "Godzilla vs. Kong," my CNN Business colleague Hanna Ziady reports. More cinemas will open on Apr. 16 with "Mortal Kombat."

"With capacity restrictions expanding to 50% or more across most US states, we will be able to operate profitably in our biggest markets," CEO Mooky Greidinger said.

Last week, AMC, the world's biggest movie theater chain, said that 99% of its US theaters will be open by the end of this month.

The pandemic meant that the release of more than a dozen major films was delayed. Some, like Disney's "Mulan," skipped theaters altogether. That hammered companies like Cineworld and AMC (AMC), which lacked big films to draw even limited crowds.

"The pandemic has accelerated what was already a narrowing window between when films could be seen in theaters and when they could be viewed at home," CNN media analyst Bill Carter wrote in a recent column.

Investor insight: Cineworld shares fell Tuesday, but have logged gains of more than 60% this year on excitement about reopening. AMC Entertainment's shares, which have been swept up in recent waves of retail trading enthusiasm, have jumped nearly 490%.

Up next


Adobe (ADBE) and GameStop (GME) report earnings after US markets close.

Also today: New US home sales for February post at 10 a.m. ET.

Coming tomorrow: The latest data on US crude inventories will arrive as oil prices slide once again.

Newsletter

Related Articles

0:00
0:00
Close
Macron and his wife to provide 'scientific photographic evidence' that she is a real woman
US Tech Giants Pledge Billions to UK AI Infrastructure Following Starmer's Call
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
DeepMind and OpenAI Achieve Gold at ‘Coding Olympics’ in AI Milestone
SEC Allows Public Companies to Block Investors from Class-Action Lawsuits
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Federal Reserve Cuts Rates by Quarter Point and Signals More to Come
Effective and Impressive Generation Z Protest: Images from the Riots in Nepal
European manufacturers against ban on polluting cars: "The industry may collapse"
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Trump: Cancel quarterly company reports and settle for reporting once every six months
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
US Launches New Pilot Program to Accelerate eVTOL Air Taxi Deployment
Christian Brueckner Released from German Prison after Serving Unrelated Sentence
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Hong Kong Industry Group Calls for HK$20 Billion Support Fund to Ease Property Market Stress
Joe Biden’s Post-Presidency Speaking Fees Face Weak Demand amid Corporate Reluctance
Charlie Kirk's murder will break the left's hateful cancel tactics
Kash Patel erupts at ‘buffoon’ Sen. Adam Schiff over Russiagate: ‘You are the biggest fraud’
Homeland Security says Emmy speech ‘fanning the flames of hatred’ after Einbinder’s ‘F— ICE’ remark
Charlie Kirk’s Alleged Assassin Tyler Robinson Faces Death Penalty as Charges Formally Announced
Actor, director, environmentalist Robert Redford dies at 89
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
JD Vance Says There Is “No Unity” with Those Who Celebrate Charlie Kirk’s Killing, and he is right!
Trump sues the 'New York Times' for an astronomical sum of 15 billion dollars
Florida Hospital Welcomes Its Largest-Ever Baby: Annan, Nearly Fourteen Pounds at Birth
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
×