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PropTech Update - June 2021

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Date: 2021-06-11 02:37:30

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Bullet Construction Dive – June 2

Offsite construction company Katerra, which has raised more than $2 billion from backers such as Japanese investor SoftBank, has told employees it is shutting down, The Information first reported. The Menlo Park, California-based firm, which was founded in 2015, will likely let go of thousands of employees and exit several construction projects, according to the report. Layoffs have already begun in Seattle, as the company dismissed 117 employees there, The Seattle Times reported.

Bullet VentureBeat - May 21

Banks including JPMorgan Chase, Goldman Sachs Group, Citigroup, Deutsche Bank AG, and HSBC Holdings plan to have workers commute to buildings in New York and other U.S. cities in coming months. Some of the banks are implementing systems where employees will book "hot seats" on particular days and be monitored while using them, sources said. "We have to be more mindful about how space is being used and when it is being used," said Neil Murray, CEO of corporate solutions at JLL, which manages offices for JPMorgan, Morgan Stanley, Goldman Sachs, and others. Murray said public health initiatives like contact-tracing have forced us to make certain concessions. "There is an element of having to watch interactions more closely. At the same we have to be respectful of individual privacy."

Original Source: https://www.jdsupra.com/legalnews/proptech-update-june-2021-9093298/