I’ve been screaming its just wage theft. My city provides tax breaks for occupancy (employees prop up the local economy buying lunch). They are making me pay for gas, time, and car maintenance (and lunch but fuck them, I’ll just not eat) for this tax break which goes to C-level bonuses/shareholders. Its just another way of skimming off the top of employee wages.
We worked fully remote for nearly 2 years and the hybrid policy just keeps getting worse and worse. Coupled with quarterly riffs, I also suspect this is to avoid severance pay/unemployment while accelerating the down sizing. Yet our CEO bonus keeps going up and up despite our stock plummeting since the end of COVID lock downs.
Why should they care though? It’s not like commercial real estate sells more computers. Staff still needs desktops, infrastructure still needs datacenters.
That’s because you don’t know about how CRE funding works.
Large chunk of CRE runs on short term fixed rate debt, which requires refis. Next big cycle is starting about now and will go through 2026.
So feds lowered interest rate sum, and corpos are pushing us into the office to soften the blow from CRE operators and their creditors.
With that being said, low quality class C office space is in default, no way around it.
Shiti suburban trash offices also will die along with the shiti malls.
However, the return to office policy is specifically to bail out class A and B office towers in the major cities, ie the VIP CRE owned by the real owners and not bagholders
To prevent a crash in the commercial office real estate market.
Why would Dell care about the commercial office real estate market?
Meh fuck the commercial real estate market. Turn all the buildings into micro apartments or tear them down and install fields of solar panels.
I’ve been screaming its just wage theft. My city provides tax breaks for occupancy (employees prop up the local economy buying lunch). They are making me pay for gas, time, and car maintenance (and lunch but fuck them, I’ll just not eat) for this tax break which goes to C-level bonuses/shareholders. Its just another way of skimming off the top of employee wages.
We worked fully remote for nearly 2 years and the hybrid policy just keeps getting worse and worse. Coupled with quarterly riffs, I also suspect this is to avoid severance pay/unemployment while accelerating the down sizing. Yet our CEO bonus keeps going up and up despite our stock plummeting since the end of COVID lock downs.
Missing the point. The office executives are in bed with the real estate execs.
Why should they care though? It’s not like commercial real estate sells more computers. Staff still needs desktops, infrastructure still needs datacenters.
Because all these companies have a shit load of money in the market including real state…
So sell it
That’s the crux of the issue.
Who’s going to buy it for a high price, if there is no demand for office space, because workers are all remote?
So for the past 4 years it didn’t matter, but now it suddenly does? I smell bs on that real estate reason
Who do you think owns the real estate?
During the pandemic they had to choose between go remote or close up shop. They didn’t have much choice.
Seems that once Covid stabilized they’ve been trying to force everyone back.
That’s because you don’t know about how CRE funding works.
Large chunk of CRE runs on short term fixed rate debt, which requires refis. Next big cycle is starting about now and will go through 2026.
So feds lowered interest rate sum, and corpos are pushing us into the office to soften the blow from CRE operators and their creditors.
With that being said, low quality class C office space is in default, no way around it.
Shiti suburban trash offices also will die along with the shiti malls.
However, the return to office policy is specifically to bail out class A and B office towers in the major cities, ie the VIP CRE owned by the real owners and not bagholders