The COVID-19 pandemic has and will continue to radically shift the workplace. An increasing percentage of the workforce desires flexible working options and, as such, firms are likely to require less office space going forward. Additionally, the economic downturn caused by the pandemic provides an opportunity for companies to secure favorable rent rates on new lease agreements. This project aims to evaluate and measure Company X’s potential cost savings from terminating current leases and downsizing office space in five selected cities. Along with city-specific real estate market research and forecasts, we employ a four-stage model of Company X’s real estate negotiation process to analyze whether existing lease agreements in these cities should be renewed or terminated.

This thesis project focuses on the effects of technology issues in the remote work environment and analyzes them using Bolman and Deal’s four frames for organizational leadership (2017). Real life examples of problems and solutions from the North America Laundry & Home Care Finance department at Henkel are utilized. An introduction to the scope of remote work in 2020 and 2021 is presented, followed by a description of Henkel’s role, size, and structure. Technology issues that occur while working remotely are described and looked at through different employee perspectives and leadership frames. Solutions currently in use and potential solutions to reduce any negative effects of these problems are also given.