The pressure on banks to squeeze every possible pound from their businesses has forced some firms to downsize their offices, in some cases requiring staff to share desks to make the most of their space.
The Daily Telegraph reports that financial firms have prompted a flurry of activity for central London estate agents, with leasing to these companies up 4.9% on the ten-year average, according to CBRE.
Several banks are moving staff out of the capital to save on costs, including HSBC, which is shifting 1,000 people to Birmingham as it splits off its retail banking operations.
As well as these steps to scale back rental bills, organisations are experimenting with desk-sharing and other ways to boost the current "desk utilisation" rate from 65%, CBRE said.
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