Manulife is adopting a cost-cutting strategy other big corporations have used to great effect, reports Bloomberg.
“By 2017, Manulife’s major offices will have unassigned desks, tighter layouts, and flexible schedules that will allow a third of Canadian employees to work remotely,” notes the report.
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The insurer hopes following the increasingly popular cubicle-cutting trend will result in savings of 25% to its property related overhead.
“Manulife will also add rental income from leasing the extra space once taken up by empty desks and filing cabinets. About a third of Manulife’s three main Toronto buildings, comprising 1 million square feet, will be leased to firms such as luxury watch maker Breitling SA,” according to the report.
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This story originally appeared on our sister site, Advisor.ca.
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