How ServiceNow is consolidating office space to reflect shrinking employee demand [Fortune]
ServiceNow, Inc. (NOW)
Last servicenow, inc. earnings: 4/29 04:10 pm
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Source: Fortune
Good morning! Can you have your cake and eat it, too? ServiceNow says, yes. The enterprise software company announced today that it will consolidate several of its offices, but will not release or terminate any of its office leases. Sixteen of its 79 locations will have consolidated office floors that allow employees to work in closer physical proximity and decrease the company’s office footprint within its buildings. It plans to lease out some of the newly vacant floors to other companies and use others for corporate events. The move speaks to an issue most large companies are working to solve right now: How can employers adjust their workspace to reflect significantly decreased employee demand for the office? While some companies are selling their headquarters or backing out of commercial real estate leases, Jacqui Canney, ServiceNow’s chief people officer, is hesitant to let go of all its space just yet, cautioning against the trend to “cut back and react.” Companies, especially
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News
- ServiceNow (NOW) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Compared to Estimates, ServiceNow (NOW) Q1 Earnings: A Look at Key Metrics [Yahoo! Finance]Yahoo! Finance
- ServiceNow Projects Sales Growth That Falls Short of Estimates [BNN Bloomberg (Canada)]BNN Bloomberg
- ServiceNow (NYSE:NOW) Posts Q1 Sales In Line With Estimates But Contract Wins Slow Down [Yahoo! Finance]Yahoo! Finance
- ServiceNow forecasts weak quarterly revenue as businesses trim spending [Reuters]Reuters
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- 4/24/24 - Beat
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- 4/24/24 - Form 8-K
- 4/17/24 - Form 4
- 4/4/24 - Form DEFA14A
- NOW's page on the SEC website