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Remote: Office Not Required

Jason Fried, David Heinemeier Hansson

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Through its telework strategy, since 1995, IBM has reduced office space by a total of 78 million square feet. Of that, 58 million square feet was sold at a gain of $ 1.9B. And sublease income for leased space not needed exceeded $ 1B. In the U.S., continuing annual savings amounts to $ 100M, and at least that much in Europe. With 386,000 employees, 40 percent of whom telework, the ratio of office space to employee is now 8: 1 with some facilities as high as 15: 1.