San Francisco, California-based tech CEO Mark Benioff says the city will never go back to the way it was before the pandemic, advising city officials to convert old office space into housing, and hire more police.
In just three years, the pandemic forced companies to rethink how their workforce conducts business, stripping away the crowds and bustling environment metropolitans like San Francisco, California were known for having.
Now, as some things return to normal, many workers who commuted to San Francisco continue to work remote and the Golden City is struggling to keep businesses intact, leaving many buildings vacant.
The Associated Press reported that office vacancy rates in San Francisco were 24.8% in the first quarter, more than five times higher than pre-pandemic levels and well above the average rate of 18.5% for the nation’s top cities, according to CBRE, a commercial real estate services company.
www.foxbusiness.com/economy/san-franciscos-downtown-never-back-way-salesforces-marc-benioff