Elgin Area Chamber Of Commerce: Ford Delays Office Plans, Office Use Scores Big Rebound, Wall Street Adjusts To Omicron

Elgin IL

08 December, 2021

2:30 AM

Description

Press release from the Elgin Area Chamber of Commerce: December 07, 2021 Ford Delays Office Plans Omicron, the latest variant of the coronavirus, has prompted Ford Motor Co. to once again delay instituting its hybrid work model. The Detroit automaker told salaried employees Monday that the hybrid work model that blends remote and on-site working won't begin until next March instead of January. Ford said in a statement the reason was the fluid situation with the coronavirus despite higher vaccination rates and regular safety protocols. Ford has delayed beginning the hybrid model twice previously. Most of the company's workforce works in the factories, which have had temporary closings and slowdowns because of computer chip shortages. Last week, Google told its employees that it was indefinitely delaying a return to offices because of the pandemic and coronavirus cases rising again. Employees were set to be in the office at least three days a week beginning in January. Apple decided in mid-November to delay its January return before the omicron variant was discovered. So far, those who contract the omicron variant have reported relatively mild symptoms, health officials have said. But they have noted that data still is being gathered, particularly in South Africa, where the first case was discovered and the variant has spread. Office Use Scores Big Rebound Although some companies are delaying a return to the office, employees at others roared back into the office after the Thanksgiving holiday. All the major metropolitan areas tracked by Falls Church, Virginia-based security firm Kastle Systems saw gains for the week that ended Dec. 1, rising to higher levels that the week before Thanksgiving. Kastle gathers anonymous employee data from workplaces where it provides access-control technology. While it is only a sampling of buildings by one security company, the data gives a peek into how employees and employers are responding to office use during the pandemic. The biggest gains came among cities that showed considerable improvement over the past several months. Holding its lead among the largest Texas cities, Austin's office use rose to 59.3%, 13.3 percentage points better than the previous week but also better than the 55.6% for the week ended Nov. 17. The Bridgeport, Connecticut-area outside New York City rose to 59.5%, 3.2 percentage points better than the week before Thanksgiving. Wall Street Adjusts to Omicron This week started with stock markets rallying to recover last week's losses. The Dow Jones Industrial Average had ridden high throughout the day Monday and closed just shy of 650 points higher than Friday. Shares in leisure and hospital companies saw the biggest gains. Marriott International and Hilton Worldwide, for example, each saw their stocks advance 4%. Oil prices gained as well, as the fear of demand plummeting because of a new variant subsided. Dr. Anthony Fauci, the White House's chief medical adviser, said over the weekend that early data on the omicron shows that it may not be as severe as the delta variant, which is still the primary cause of increasing case counts now. Source: www.CoStar.com This press release was produced by the Elgin Area Chamber of Commerce. The views expressed here are the author's own.