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The working from home trend due to coronavirus shutdowns will prevail after the deadly virus is contained, according to Jefferies.
The Wall Street firm expects the benefits of remote working to cause a doubling of work-from-home levels in a post-COVID-19 world, creating certain winners and losers in the markets. Technology companies will be the primary beneficiaries, Jefferies expects.
The increased levels of working-from-home "will drive paradigm shifts in tech requirements, consumer behavior and will provide extra time (removing commutes)," a handful of Jefferies analysts wrote in a note to clients. The firm said working from home attracts more talent, reduces real estate costs, increases productivity and causes lower employee turnover.
The fast-spreading coronavirus has caused unprecedented financial and societal disruption in the U.S. The economy is essentially shut down as deadly virus has infected more than 550,000 Americans. Google, Amazon, Ford, GM, AT&T, Microsoft and most of Wall Street have enacted mandatory work from home for most employees and 96% of the U.S. population is in 'lock-down', said Jefferies.
Source: cnbc.com