New layout - how to hide the right-hand bar which takes up too much screenspace ?

I can't even find what this right-hand bar is called, but in the new layout it's taking up over a centimetre width of screenspace. The commands used to be in a fly-out menu, which was perfectly adequate. Can this please be fixed a.s.a.p. as Smartsheet is less helpful with unnecessary loss of working screen space.

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