271
Meta updates RTO policy with stricter mandate, saying workers may lose their jobs if they don't show up 3 days a week
(www.businessinsider.com)
this post was submitted on 18 Aug 2023
271 points (97.2% liked)
Technology
59402 readers
4099 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I suspect that these big corporations were advised by banks and the government to scale back work from home policies to avoid triggering a real estate market collapse in cities by vacating expensive office space en masse. This could cause defaults by landlords and a housing crisis as workers no longer need to pay premiums to live near offices. An exodus from cities would crater housing markets, which would severely damage the overall economy. Thus corporations are pushing for office returns to shed some staff but also to avert an economic crisis, despite the cost savings of remote work
Since when do big corporations give a shit about bursting industry bubbles? If it's not their own bubble, they loooooooove to capitalize on the profit margins that come from disasters. Even if it is their own bubble, they'll find a way to short their own stock to see a big windfall.
Economy collapse -> people have less money -> people spend less money -> the corporation has less revenue -> :)
This is almost guaranteed to have trickled down. If the banks go down due to being overleveraged, everyone suffers. Isn't it strange all the major companies are doing this, even when it doesn't make sense? Literally no one else from my team works in my office, they're all in another state. Then again, I work for a bank, so... Yeah. This is the "if I go down, we all go down" part of the plot