Accounting Major KPMG All Set to Relocate its Office

With the world hit hard by the economic slowdown, many major companies such as KPMG are eying on new workplace with a much lesser rent for cutting down their costs.

KPMG has not yet completed the lease period of its present office place at St. James Square with six more years to go. However, they are already on a lookout for an area of around 80,000 sq .ft, with desk space which could also accommodate another 100 employees over and above the present strength.

Many analysts from the office space sector feel that with huge reductions offered by various construction companies in order to generate attention from prospective buyers, more and more organizations are planning to relocate their workplace without really waiting for the lease period to come to an end .There is also a large supply of fresh sites for rent as a result of the economic crisis.

Hill Dickinson, a Law firm is also contemplating shifting its work to a new building though they still have twelve more years as per the present lease agreement. However, it is to be noted that not all the companies are shifting immediately due to the prevailing market conditions, as Price Waterhouse Coopers have chose to hold on for a while with the old building.

These actions by leading companies demonstrate a serious problem with their resources. KPMG has also opted for a four day work week along with laying off around 200 employees.