It's not about productivity at all. These same companies were commissioning studies during Covid that told their analysts "look how productive our employees are now that they are working from home!"
It's about crushing labor.
WFH forces employers to compete. It gives a lot of power to employees, because they can apply for far more roles, work fewer hours, moonlight for multiple companies, etc, apply for other jobs during work hours, etc. These companies know that white collar workers are not fungible. Their intellectual workers are genuinely very difficult to replace and produce a lot of value.
For talent that isn't fungible, it's RTO. For talent that is fungible, offshoring.
It's about crushing labor.
WFH forces employers to compete. It gives a lot of power to employees, because they can apply for far more roles, work fewer hours, moonlight for multiple companies, etc, apply for other jobs during work hours, etc. These companies know that white collar workers are not fungible. Their intellectual workers are genuinely very difficult to replace and produce a lot of value.
For talent that isn't fungible, it's RTO. For talent that is fungible, offshoring.