Industry average these days is ~25-50% turnover when it’s just a return to office mandate. As in, no relocation, just adding a daily commute.

Relocation has always been 99% turnover. Very few people are ever willing to spend not only their lives, but those of their family, just for a job.

This isn’t really any different than Tesla or Disney moving offices that were in the news recently. It’s a mildly disguised layoff, and they will hire new (probably fewer) staff at the new office.