Comment on Amazon CEO Tells Workers: Return to Office or 'It’s Probably Not Going to Work Out for You'

girltwink@lemmy.world ⁨1⁩ ⁨year⁩ ago

• Confused_Emus@lemmy.world ⁨1⁩ ⁨year⁩ ago

  I was really hoping someone would have the balls to call him on that in one of the many comical public meetings they had about RTO.

  Be the change you want to see in the world.

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  • girltwink@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Like i said, I’m not going back to the office, and my part of the company is openly defiant about it. Most of us are independently wealthy and they know we can just walk.

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• Strangle@lemmy.world ⁨1⁩ ⁨year⁩ ago

  It’s not just about liking the big buildings. It’s also very much tired to company evaluation numbers and stock price.

  Real estate is a huge part of company asserts and they reflect in the stock price.

  Why do you think these huge mega companies publicly traded have these trillion dollar campuses and stuff? Private companies would find that a little bit crazy, when they are more focused on having actual cash in the bank.

  The real estate isn’t an ego thing, it’s protecting and growing the price of company stock

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  • TigrisMorte@kbin.social ⁨1⁩ ⁨year⁩ ago

    The Real Estate is usually subleased from holding companies owned by Board members or their family.

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    • Strangle@lemmy.world ⁨1⁩ ⁨year⁩ ago

      This would still count as company assets, though?

      Does apple lease their campus?

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  • Semi-Hemi-Demigod@kbin.social ⁨1⁩ ⁨year⁩ ago

    A lot of companies with large campuses have gotten concessions from local government, since the workers will increase economic activity in the area. So part of it is also that city governments are putting pressure on companies to get people in, and they might lose millions in tax breaks they got for building in their city.

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  • girltwink@lemmy.world ⁨1⁩ ⁨year⁩ ago

    It’s about liking big buildings in this case.

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    • Strangle@lemmy.world ⁨1⁩ ⁨year⁩ ago

      That doesn’t make logical sense, though

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      • jubilationtcornpone@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

        In my experience, big corporations frequently do things that don’t make any logical sense.

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  • Fiivemacs@lemmy.ca ⁨1⁩ ⁨year⁩ ago

    Don’t forget they also invest in companies that buy/own buildings too…it’ll hurt their bottom dollar across the board

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    • Strangle@lemmy.world ⁨1⁩ ⁨year⁩ ago

      I’m not convinced the bottom dollar is as relevant as the stock price.

      These companies make baffling dollar decisions, like having these trillion dollar campuses, that would make no sense at all to the bottom dollar.

      It would seem wasteful. But for the stock? Well that seems like a different story. What does having trillions in real estate holdings under a company name do to the stock?

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      • Num10ck@lemmy.world ⁨1⁩ ⁨year⁩ ago

        well it helps the book value as an asset but it hurts the available cash and the liquidity of assets and the return on assets although the depreciation is a big write off. its not a great use for most companies to sit on brick and mortar that aren’t generating revenue. but whats the point of having a high floor corner office if nobody is around to pretend to care?

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  • chicken@lemmy.dbzer0.com ⁨1⁩ ⁨year⁩ ago

    But, couldn’t the company sell their real estate and pay that out to shareholders while retaining the same profit potential?

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    • Strangle@lemmy.world ⁨1⁩ ⁨year⁩ ago

      They can also sell product to customers, but often over stock items for the same reasons.

      Showing trillions of dollars in assets, with inflated inventory dollar values makes the company look more valuable, which impacts the stock price.

      I’m sure there are a dozen ways to skin that cat, but this is how C-Suite execs seem to prefer to make their stock go up

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• lagomorphlecture@lemm.ee ⁨1⁩ ⁨year⁩ ago

  My previous employer put on a handout that was supposed to make people feel good about RTO that Denver was chosen as a hub because of a $7 million tax break. So it’s about real estate but there could also be other bullshit reasons for it as well, none of which actually have to do with collaboration or culture.

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