You’re reading The Brazilian Report’s weekly tech roundup, a digest of the most important news on technology and innovation in Brazil. This week’s topics: Remote work in Brazil. The quality of internet speed. And the perils of video-conferencing.
Tech companies leading Brazil’s transition to remote work
As the world debates the disruptions caused by Covid-19 at work, Brazil is already feeling the first impacts. XP, Inc. Brazil’s biggest independent brokerage firm, announced that it will extend remote work operations globally up until December, with the possibility of making it permanent.
Context. XP move echoes other tech companies’ decisions, such as Google, which currently has its entire workforce in Brazil working remotely. Google also intends to maintain this regime until the end of the year, before returning to normal operations gradually.
Perspectives. XP is also reportedly considering turning its current office spaces into “concept offices” to host training, team dynamics, or hosting customers and partners.
Side effects of the remote life. As companies attempt to slash costs, remote work may also be an opportunity for companies to cut costs by moving to smaller spaces and renegotiating rent contracts. For Levante Investimentos stocks analyst Eduardo Guimarães, property managers’ pricing power to renegotiate rents seems to have weakened, as, in theory, there will be less demand for commercial spaces. “The first to feel the blow will be coworking firms, because small clients may break contracts right away. It is different when it comes to big firms, with well-established teams and longer rent contracts,” he says.
Too soon to say. For Mirae Assets stocks analyst Pedro Galdi, remote work is more of a trend created by necessity than a definitive change. “I believe that...
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