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Dropbox CEO slams RTO mandates, compares them to outdated malls and theaters
- chiefalchemist 1y agoHe’s right, it is a different world now. However, many of these RTO companies purchased real estate (read: office space) based on the old paradigm. It’s no secret that commercial real estate is in bad shape. RTO helps to prop that up - ‘cause the alternative might be ugly circa 2007 / 2008.
- linotype 1y agoThe difference is leverage, I don't think it would be as bad as 2007/2008. One way or another they're going to be written down because many companies are having a hard time getting everyone back in the office.
- 999900000999 1y agoEnough people will RTO. I’m lucky to be remote , but this isn’t going to last.
- deleted 1y ago[deleted]
- nobodyandproud 1y agoHow many RTO companies are publicly traded, and held by firms with an interest in commercial real estate?
- chiefalchemist 1y agoDoesn’t matter. Their banks finance real estate. It’s not going to easy to get a loan when your bank sees you as the one who hurt them. That aside, it’s a house of cards. Shoes start dropping and no one knows what will happen. No one wants to know. The status quo of RTO is safer
- ulfw 1y agoVast majority of companies don't own their real estate. They rent it.
- chiefalchemist 1y agoDoesn’t matter. Some company owns it. Some bank finances it. For the same reason the Fed wants low inflation (because deflation undermines the financial system), falling commercial real estate is bad for everyone. Non-renters need RTO. So do renters.
- tayo42 1y agoLooking at the job market recently for software engineers, there isn't alot of high paying remote jobs right now. A lot of companies have "hybrid" requirements.
- GoToRO 1y agoIn my locale it was the same. Ultimately those kind of companies didn't actually have the job and I ended up with a company that is 100% remote. What I saw were companies that posted job ads (as in actual online ads) to hide the fact they were losing customers and had no jobs, companies that tested what the applicants would tolerate (RTO) and so on. Also a lot of companies posponed everything 6 months so the new budgets get in. They need the people but they can't afford them.
- aiiizzz 1y agoHybrid is such weak format, why would anybody bother, I don't understand.
- FirmwareBurner 1y agoBecause that's the only jobs available where they live? You don't understand why people wouldn't want to be unemployed?
- morcus 1y agoI interpreted the comment as "why would management bother" not "why would the rank-and-file" bother
- FirmwareBurner 1y ago>"why would management bother" It's their money, they can ask for whatever they want within the legal employment framework. If they want people in the office it's their choice since they're paying for it.
- motorest 1y ago
- deleted 1y ago[deleted]
- notepad0x90 1y agoIt's not just that it's an outdated mindset, but a fence-sitting mindset where they want the best of both worlds. If you want people back in the office, here is an idea: start giving them actual offices, just like back in the day!
- jgalt212 1y agoPreach! Hoteling is just an abomination. You're treating your full time employees like piece workers.