Idk about the whole talk of having an excuse to shareholders, I don’t think shareholders look into hey these offices are sitting unused I demand an explanation I think they care how much profit the company making and what are future predictions of profit.
No, but it will bring into question the process by which they were acquired to begin with.
Somebody will ask, why did you spend x billion on real estate when it was obvious that remote work was the future?
Or if they are locked into a long-term lease, eventually the question will come up why are we spending all this money for office space we aren’t using? Shouldn’t we have thought of this earlier?
Not having workers in the office makes it obvious that real estate was a bad investment, and many of these companies are pretty heavily invested in real estate. Easier to screw the workers with what can be explained away as a management strategy than admit a wasted a whole bunch of money buying and building and renovating space you don’t need.
Idk about the whole talk of having an excuse to shareholders, I don’t think shareholders look into hey these offices are sitting unused I demand an explanation I think they care how much profit the company making and what are future predictions of profit.
No, but it will bring into question the process by which they were acquired to begin with. Somebody will ask, why did you spend x billion on real estate when it was obvious that remote work was the future? Or if they are locked into a long-term lease, eventually the question will come up why are we spending all this money for office space we aren’t using? Shouldn’t we have thought of this earlier? Not having workers in the office makes it obvious that real estate was a bad investment, and many of these companies are pretty heavily invested in real estate. Easier to screw the workers with what can be explained away as a management strategy than admit a wasted a whole bunch of money buying and building and renovating space you don’t need.