this post was submitted on 29 Sep 2024
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Why the fuck would any office worker whose job is 100% on a computer need to be in an office? I don't understand why companies want to pay for all of that electricity and real estate just to make people sit in cubicles.
To prevent a crash in the commercial office real estate market.
Why should they care though? It's not like commercial real estate sells more computers. Staff still needs desktops, infrastructure still needs datacenters.
This is what is so fascinating to me about most people, they don't understand that companies hord their assets in my different kinds of investments when they are this large. Having real estate gives them an asset they can can store large sums of money in that generally appreciate in value over time. If a company is under finacial duress, they can fire a bunch of employees, then sale the land where those employees worked and and save themselves from much larger losses on revenue for a given time period.
Both major companies I've worked for sold their commercial real estate and leased it back as one of their very first measures when cost cuts were needed. What we have here is essentially the reverse where tech companies scare off their workforce and industry knowledge and drive up employee costs so they can impart some secondary effect on the commercial real estate market... so yes i remain confused about the priorities in play here.