Some staff members were alerted on Wednesday they were “not currently meeting our expectation of joining your colleagues in the office at least three days a week”, according to emails shared with the Financial Times. The emails were also discussed on the anonymous corporate message board platform Blind.
The real reason they want everyone back in the office.
https://www.theatlantic.com/ideas/archive/2023/06/commercial-real-estate-crisis-empty-offices/674310/
Maybe for a small number of companies in a small number of industries, but most companies rent their office premises, even large companies.
I’ve worked at several multinational companies that sold their HQ buildings when they recognised that building management was not a core competence for them and tying up capital in real estate has a significant opportunity cost for them.
It’s no skin off their noses if commercial real estate plummets in value - if anything, it would be in their favour as their rent would decrease.
The companies that do this are generally more half hearted in their push for RTO. You get some that try to claw it back but especially the big ones mostly can’t care
Yeah. It doesn’t make sense that CEO’s would be ruthless in slashing labor and capital costs would fall in love with commercial leasing.
Amazon owns a lot of their office buildings
Amazon is shitting money. They’re not exactly a typical company.