Reply to Tech CEOs predicting WFH will be permanent, and many employees will never come to an office again

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[quote=Anonymous]Tech CEOs stating that productivity is still good.

[quote]That just may be the beginning: At least six prominent tech companies are considering permanently moving a large slice of their workforces to work-from-home status, their chief executives told MarketWatch this week.

“It’s hard to not see 20% to 40% of our workforce be remote,” Slack CEO Stewart Butterfield told MarketWatch in an interview Thursday on — appropriately enough — a Zoom ZM, -5.80% video call.

“We need to make real-estate decisions long in advance, two to three years, and are in the speculative conversation now if we have 30%, 40% fewer desks,” Butterfield said in discussing conversations he was having with fellow Slack executives this week. “We may make the office more of a hotel.”[/quote]

[quote]The financial impact on cities like San Francisco and Seattle, where tech is the chief economic engine, could be devastating. Use of commercial real estate and public transit are likely to decline. Restaurants, bars and other gathering spots could be endangered. And then there is the toll on workers, many of whom feel increasingly isolated and stressed, worried about the security of their jobs even as they log long shifts at home.[/quote]

https://www.marketwatch.com/story/work-from-home-productivity-gain-has-tech-ceos-predicting-many-workers-will-never-come-back-to-the-office-2020-05-15?mod=mw_quote_news

Finally businesses are seeing the writing on the wall. Get with the 21st century.  Office jobs are soooooo 20th century, and it isn't worth the cost to locate yourselves in horrendously overpriced urban centers where you have to pay quadruple the premium in terms of office space and salaries just to compensate.  Businesses are starting to realize they could save huge amounts of money if their people can WFH and live in lower cost of living areas of the country.  Bring it on.  Hopefully the RE markets in horribly unaffordable cities like Seattle, SF, DC start to implode.

I would leave this area in a heartbeat if I were guaranteed permanent WFH.  I'd much rather retire faster by saving more money also not have to deal with horrific traffic in this area. [/quote]

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