Almost a quarter of financial-services firms are planning to cut their workforce in New York City in the next five years, according to a survey by the Partnership for New York City.
That was the highest share of any industry surveyed, according to a statement Wednesday. Overall, 13% of employers in the city expect to reduce their workforces in coming years, while roughly a third said their need for office space will decline.
Just 28% of the city’s one million office workers are back on an average weekday, according to the October survey. That’s still an improvement from the 23% that were back when the Partnership last conducted its survey in August, when employers forecast that 41% of their workers would return by the end of September.
Employers surveyed last month expect about half their staff will be in the office on an average weekday by the end of January.
The slow reopening of workplaces in the city has hindered economic growth, especially in neighborhoods that are home to some of the city’s tallest skyscrapers and office towers. As the Delta variant surged across communities earlier this year, it disrupted many companies’ plans for bringing staff back.
More must-read business news and analysis from Coins2Day:
- From Delta to Southwest, the airlines in the best—and worst—shape going into a chaotic holiday season
- How a risky bet on the Shiba Inu coin made this warehouse manager a millionaire
- Patagonia doesn’t use the word ‘sustainable.’ Here’s why
- Will monthly child tax credit payments continue in 2022? Their future rests on Biden’s Build Back Better bill
- ‘I’m afraid we’re going to have a food crisis’: The energy crunch has made fertilizer too expensive to produce, says Yara CEO