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From restaurants to retailers, coronavirus transformed economies

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www.livemint.com

NEW YORK : It would be just a temporary precaution.When the viral pandemic erupted in March, employees of the small insurance firm Thimble fled their Manhattan offices.

CEO Jay Bregman planned to call them back soon — as soon as New York was safe again.Within weeks, he'd changed his mind. Bregman broke his company’s lease and told his two dozen or so staffers they could keep working from home — possibly for good.The gains were at once unexpected and immediate.

Bregman is saving money on rent. He no longer has to persuade recruits to relocate to a crushingly expensive city. He’s increased his staff by 20% and for the first time added new hires in Texas and California.“I was very skeptical at first that we could conduct business this way for.

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