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Investing.com -- Verizon Communications (NYSE:VZ) is expanding its Manhattan footprint by leasing 200,000 square feet in a renovated office tower near Penn Station, as the telecommunications company prepares to implement stricter in-office requirements.
The company plans to consolidate more than 1,000 employees from two existing Manhattan locations into the new headquarters next year, according to The Wall Street Journal, citing people familiar with the matter.
Starting the day after Labor Day, Verizon will require management and corporate employees on hybrid work arrangements to be in the office three days per week. This represents an increase from the previous policy that mandated eight days per month in the office.
A company spokesman indicated to WSJ that employees who have been approved for full-time remote work arrangements will likely not be affected by the policy change.
The office expansion and updated attendance policy align with Verizon’s workplace strategy as it prepares for the headquarters relocation in 2026.
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