I heard today that an urgent and complete reassessment of office rentals throughout Houston is underway.
They are looking to either renegotiate terms with landlords, or do aggressive consolidation with layoff clauses they had negotiated with the landlords when they made their contract.
In other words, if they layoff a certain percentage of employees in the building and can provide proof, then they can walk away from the lease.
So those buildings that have such clauses are at risk of a higher percentage of layoffs. Remaining employees are then transferred to work at other buildings without the clause.
Bottom line. More layoffs if you are in a cube or office currently in Houston. They are incentivized to make it happen soon so they can get away from leases based on old lease price or time commitments.