Progressive to dump a number of workplace buildings

Progressive is getting ready to promote a number of of its workplace properties throughout america as a part of its technique to adapt to a altering work surroundings, in response to an organization spokesperson.

As per AM Finest, the insurance coverage big is itemizing amenities together with the Campus 1 in Mayfield, Ohio, the Progressive Residence campus in St. Petersburg, Florida, in addition to areas in Colorado Springs, Colorado, Riverview, Florida, and Carmel, Indiana.

The transfer comes as Progressive continues to regulate its workspace technique in response to evolving worker preferences and operational wants.

“As we proceed to develop and reimagine our workforce, Progressive affords versatile work choices for a lot of of our workers with most individuals selecting to work from their properties,” a Progressive spokesman stated, with the shift resulting in a reassessment of the corporate’s actual property holdings.

“Our present workplace areas have all the time been a mix of owned and leased areas,” the spokesperson defined. “As we proceed to search for methods to function as effectively as attainable whereas offering the very best for our workers and clients, our actual property staff has accomplished a complete market evaluation and can start advertising efforts for the sale and/or lease of some buildings concerned in beforehand introduced consolidations.”

The choice follows Progressive’s announcement final July that it might consolidate a number of of its properties in Northeast Ohio and different components of the nation. The corporate had retained these areas inside its portfolio till the current replace.

Progressive additionally famous that it’ll preserve reviewing workplace utilization to make sure selections align with worker and company wants.

The announcement comes after Progressive reported a big enhance in monetary efficiency, with internet revenue rising greater than fivefold to $2.33 billion within the first quarter, up from $447.9 million a 12 months earlier.

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