08.17.20 - The biggest losers of the pandemic is America’s urban centers. Both San Francisco Bay and New York may be the biggest losers of this crisis. With big tech offering long term remote work options to employees, people are leaving expensive urban centers in droves. Facebook, Google, Twitter, and Slack are offering remote work options up to a year in some cases and as a result, employees are leaving to places like Arizona, Colorado, and Texas.
An internal survey at Facebook said that 40% of employees were interested in complete remote work options. 75% of those employees said they would relocate. Another survey of 371 Bay Area tech workers found that 42% would move to a less expensive city.
COVID may have accelerated a long-predicted shift in how and where Americans will work, which is essentially anywhere with an internet connection.
Source: Wall Street Journal