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Leaked Zoom all-hands: CEO says employees must return to offices because they can't be as innovative or get to know each other on Zoom (www.businessinsider.com)
submitted 2 years ago by [M, B] to c/technology@lemmy.world
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Leaked Zoom all-hands: CEO says employees must return to offices because they can't be as innovative or get to know each other on Zoom::Zoom CEO Eric Yuan discussed the benefits of in-person work in a leaked meeting.

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[–] 12 points 2 years ago (2 children)

Why would companies that generally avoid owning real estate act against its own self interest for the profits of real estate companies?? I don’t see the connection.

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  • [–] 9 points 2 years ago (1 child)

    I agree with this, the theory doesn't track very well unless the executives locked themselves into expensive long term leases for their offices and don't want to feel embarrassed that it's a wasted cost.

    I think the more likely explanation is that the companies want to drive people into quitting so they can reduce payroll without being on the hook for unemployment insurance.

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  • [–] 5 points 2 years ago (1 child)

    the executives locked themselves into expensive long term leases for their offices and don't want to feel embarrassed that it's a wasted cost.

    This is exactly what happened at Alphabet.

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  • [–] 0 points 2 years ago (1 child)

    That’s false. They were not locked. They publicly announced they paid the fines to end those leases early. I think people are just sharing feelings and not facts here.

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  • [–] 1 point 2 years ago (1 child)

    If they paid fines to cancel, then they were locked in. But they were sensible enough to not fall for sunken cost fallacy and formed up the extra money for the fines to break the lease. Most companies aren't so forward thinking.

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  • [–] 0 points 2 years ago

    That’s a semantic distinction that makes no difference for their incentives. They are not feeling any pressure that affects their decision making in this regard anymore. That was the original argument.

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