For most businesses, the largest expense on their P&L is people. The second largest is real estate. But in the post-COVID reality, I believe a busines's need for office space will change. They may not want additional square footage as their team grows. Certainly, the density of their office space will change, or perhaps they may not even need the space they already have.
So, what should your company do with its budget formally allocated for leases and physical office space? Move these funds to digital — specifically, to enhance and support a world-class, physically distant employee experience.
This may worth something:
BP CEO: 'It's a brutal environment that we face' - HoustonChronicle.com
BP is bracing for a long recovery from the recent oil bust, planning to run its business next year under the assumption that crude prices will continue to hover around $35 a barrel.
The British oil supermajor said Thursday that it aims to balance its 2021 budget, invest $12 billion in the business and continue paying shareholders a healthy dividend with oil around $35. The company, which plans to cut $2.5 billion from its operating budget by the end of 2021, announced plans Monday to lay off nearly 10,000 workers, 14 percent of its workforce, by the end of the year.
Budget provision makes notable change to Pennsylvania's medical marijuana law | Pennsylvania |
Questica, a GTY Technology Company, Expands Client Base in Washington State | Business Wire
"Questica's budgeting and transparency solutions empower public sector organizations by streamlining their budgeting processes, improving performance and helping them to meaningfully engage with citizens," said TJ Parass, CEO of GTY Technology. "Questica has two decades of experience creating innovative solutions to meet the public sector's challenges and drive digital transformation.
"Questica Budget is a feature-rich budgeting solution that helps public sector organizations successfully take charge of budget assembly, tracking, analysis and reporting," said Craig Ross, President & CEO at Questica. "We take pride in offering a best-of-breed solution that contributes to the success of our clients and their constituents."
Other things to check out:
City moves forward with budget amid increased rate concerns | Henry County Enterprise
Following a public hearing, Martinsville City Council in a 4-1 vote on June 9 approved on first reading a budget ordinance outlining fund details of the city's proposed fiscal year 2020-21 budget.
The budgeted expenditures are $95,610,078, with projected revenues of $90,931,491, documents showed.
During work sessions leading up to Tuesday's vote, City Manager Leon Towarnicki said staff members were asked to present budgets with the rate increase removed.
Budget airlines face business model challenge in post-pandemic world
Romanian lawmakers double target but not budget of SME financing program | Romania Insider
However, it didn't change the budget for the interest rate and fees that the Government has promised to cover for the companies this year.
President Iohannis promulgated the law under the form amended by the Parliament without commenting on the inconsistency.
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Romania's president Klaus Iohannis promulgated the law that endorses the Government-backed SME financing plan, doubling...
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Herbert says he'll call a special session next week for budget cuts, but he wants to preserve
Gov. Gary Herbert said Thursday he would call a special session of the legislature next week to address the effect the economic downturn will have on Utah's budget. However, he said he believes lawmakers will be able to avoid cutting the public education budget.
Herbert said the economic shutdown because of the Covid-19 pandemic took a bite out of the state budget, but he thinks the state is well-positioned to deal with the economic fallout.
"I do believe based on a number of things we will be able to weather this storm and be able to provide services to the people what they need. That's going to be a challenge to figure out how we do more with less, but I believe we can do that," he said.
Happening on Twitter
Statue of slave trader Edward Colston pulled out of Bristol Harbour after being thrown in by anti-racism protesters… https://t.co/J9wlVmfdax BBCNews (from London) Thu Jun 11 06:39:22 +0000 2020
Cruise missiles used in several attacks on oil facilities and an international airport in #Saudi Arabia last year w… https://t.co/SGjpywhWA7 Jerusalem_Post (from Israel) Fri Jun 12 05:47:10 +0000 2020
The Austin City Council is starting its meeting where members will vote on several changes to police policy & budge… https://t.co/NxdFlzrG4O AKMcGlinchy (from Austin, TX) Thu Jun 11 15:09:08 +0000 2020
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