Comment on Tech CEOs are backtracking on RTO mandates—now, just 3% want workers in the office full-time

count_dongulus@lemmy.world ⁨1⁩ ⁨month⁩ ago

• huginn@feddit.it ⁨1⁩ ⁨month⁩ ago

  (it was also about commercial real estate values taking a land dive but otherwise spot on)

  source
• thesporkeffect@lemmy.world ⁨1⁩ ⁨month⁩ ago

  This is the only correct answer

  source

  • cyberpunk007@lemmy.ca ⁨1⁩ ⁨month⁩ ago

    What about “we have this massive office and only 3 people use it” and “we want to micro manage our employees”

    source

    • Gradually_Adjusting@lemmy.world ⁨1⁩ ⁨month⁩ ago

      The complex interplay of macro and micro

      source
    • Sc00ter@lemm.ee ⁨1⁩ ⁨month⁩ ago

      There’s some of that. I know companies in my city were given tax breaks for hosting their office building there. The theory is, the business brings more people into the area who will be spending money on lunch/happy hour/gas/etc. The tax income of that is more than the tax benefit they offer the company.

      Well, people stop coming to the office, and their tax benefit of the employees being in the city dries up. The city was threatening the companies tax benefit if the people didn’t come back, and thus, RTO (in my city, anyway).

      source

      • cyberpunk007@lemmy.ca ⁨1⁩ ⁨month⁩ ago

        Never thought about that angle, makes sense though

        source
    • thesporkeffect@lemmy.world ⁨1⁩ ⁨month⁩ ago

      I agree that those were side benefits of RTO, but it’s only stopping because they are planning to start buying up and hoarding tech workers again when the interest rate drops.

      source
• ARk@lemm.ee ⁨1⁩ ⁨month⁩ ago

  Why would they make employees quit when they are just going to hire again? Weeding out the job hoppers?

  source

  • ready_for_qa@programming.dev ⁨1⁩ ⁨month⁩ ago

    It’s like when you cancel your Netflix when money is tight and then resub once you can afford it again.

    We are just labor subscriptions for corporations.

    source
  • Nalivai@lemmy.world ⁨1⁩ ⁨month⁩ ago

    First you cut the costs and get a bonus for that, then you fill the empty roles, and then get a bonus for that

    source
  • humorlessrepost@lemmy.world ⁨1⁩ ⁨month⁩ ago

    Quarterly profits were down. Next quarter is irrelevant.

    source
  • ofcourse@lemmy.ml ⁨1⁩ ⁨month⁩ ago

    Because a lot of CEOs these days only care about quarterly reports. When interest rates went up, companies cost to do business also went up, so to keep the red profit line going up, they had to cut costs somewhere. Labor makes up most of the expenses so layoffs and forced RTO happened.

    These CEOs don’t care that they lose years of experience when employees leave. And by the time the lack of experience catches up to the companies shitting themselves, the CEOs hope to have moved on to something else with their massive stock rewards for “increasing shareholder value”. Even the Boeing CEO who wasn’t lucky enough to leave before shit hit the fan is going to get a golden parachute. So really no downside for them.

    source

    • captain_aggravated@sh.itjust.works ⁨1⁩ ⁨month⁩ ago

      The computer did that auto-layoff thing.

      source