Common theory l, that I have heard is that if business owns their office space then it’s value is inherently tied to profit margins. If office goes unused, value will drop, which affect bottom line, which affects boards willingness to pay out large CEO bonuses. So getting employees back into the office becomes vital for the leadership.
Seems right. I have a friend who works for Amazon and lives in Portland, OR. They’re asking them to relocate to Seattle to RTO. Now they’re debating if they even want to stay at the company. Supposedly they have until EOY to decide.
Even if they don’t own it, there is cost associated with downsizing an office. Selling off furniture is impossible at the moment. Leases are down. Subletting is much harder. But there places are, paying plant, hvac and cleaning, maintenance on virtually unused office space.
Most places just need a conference room, some temp offices and a bathroom.
Common theory l, that I have heard is that if business owns their office space then it’s value is inherently tied to profit margins. If office goes unused, value will drop, which affect bottom line, which affects boards willingness to pay out large CEO bonuses. So getting employees back into the office becomes vital for the leadership.
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Seems right. I have a friend who works for Amazon and lives in Portland, OR. They’re asking them to relocate to Seattle to RTO. Now they’re debating if they even want to stay at the company. Supposedly they have until EOY to decide.
deleted by creator
Even if they don’t own it, there is cost associated with downsizing an office. Selling off furniture is impossible at the moment. Leases are down. Subletting is much harder. But there places are, paying plant, hvac and cleaning, maintenance on virtually unused office space.
Most places just need a conference room, some temp offices and a bathroom.