Remote work risks wiping $800 billion from the value of office buildings in major cities, highlighting the potential losses that landlords are facing from post-pandemic changes in employment trends.
Corporations: get your booty back into the office so it’s not empty
Also corporations: we’ve laid off your team in favor of AI, it was a tough but necessary choice due to costs
The empty office building: ???
I mean to be fair even though corporations fucking suck. Most commercial leases are typically longer than what you would do for residential. So it can range from 3-10 ish years(3-5 seems to be a common number). There is always the option to exit them early but there are typically pretty costly negatives to doing that.
I guess my company has been lucky so far. Our management team saw the chance to save money by reducing how many buildings we need and they rolled that money into hiring more remote workers.
It’s funny / sad how much good / bad management can affect a company. Anyone with half a brain can see the benefit of remote work. You just need to figure out how to keep your workers accountable in different ways now that you can’t stand behind their chairs and look over their shoulders.
The smart companies are saving money and getting better workers. The rest can all go fuck themselves.
Corporations: get your booty back into the office so it’s not empty
Also corporations: we’ve laid off your team in favor of AI, it was a tough but necessary choice due to costs
The empty office building: ???
I mean to be fair even though corporations fucking suck. Most commercial leases are typically longer than what you would do for residential. So it can range from 3-10 ish years(3-5 seems to be a common number). There is always the option to exit them early but there are typically pretty costly negatives to doing that.
I think the guy who bought it is in for life though :-)
I guess my company has been lucky so far. Our management team saw the chance to save money by reducing how many buildings we need and they rolled that money into hiring more remote workers.
It’s funny / sad how much good / bad management can affect a company. Anyone with half a brain can see the benefit of remote work. You just need to figure out how to keep your workers accountable in different ways now that you can’t stand behind their chairs and look over their shoulders.
The smart companies are saving money and getting better workers. The rest can all go fuck themselves.