Remote Work Costs Manhattan More Than $12 Billion a Year

What’s the value of a city when workers don’t need to be there anymore?

It’s a question municipalities around the globe have been trying to answer for three years, since Covid-19 changed the way we work. New exclusive data analyzed by Bloomberg News and Bloomberg Tax reveals that for many US cities, Fridays at the office are dead, Mondays are a crapshoot, and returning to pre-pandemic work schedules looks like a lost cause.

In Manhattan alone, workers are spending at least $12 billion less a year due to fewer days in the office. Office vacancies pose a multibillion-dollar crisis for ...