this post was submitted on 15 Aug 2023
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Asklemmy
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Like people said, a lot of companies have stake in real estate.
WeWorks, for example, was supposed to be big IPO and big payouts for these companies. And because of WFH, WeWorks is near bankruptcy with 12 cent stock.
Only way to avoid further real estate losses is to force employees back to office.
WeWork was already having problems before Covid, and WFH would actually benefit WeWork since it means more mobile staff that could use a remote office in places where they can't find room at home.
A lot of companies get large investments from investors. Investors generally have a lot of stake in real estate.
Probably the same reason why small startups get fancy offices in the city center as soon as they get their investments, but there's no budget for salaries.