Is anyone surprised? A lot of the large tech companies that have been saying it's ok to work from home have almost as much invested in real estate as they do in their own technology.
Sustained WFH would reduce the value of this real estate greatly so it's in their best interest to do an about turn as soon as it's "safe".
Absolutely. Some tech companies -- like all companies-- have purchased real estate in flush times. Google owns plenty of office space in expensive areas like Palo Alto or Manhattan. Of course they want to keep getting value out of them.
It can be more complicated that that—take pride for example. Admitting you were wrong in buying that property in the first place is not a look that a company wants.
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Is anyone surprised? A lot of the large tech companies that have been saying it's ok to work from home have almost as much invested in real estate as they do in their own technology.
Sustained WFH would reduce the value of this real estate greatly so it's in their best interest to do an about turn as soon as it's "safe".
I don't think Microsoft is any different.
Microsoft’s real estate value is probably negligible relative to their annual revenue, no?
Absolutely. Some tech companies -- like all companies-- have purchased real estate in flush times. Google owns plenty of office space in expensive areas like Palo Alto or Manhattan. Of course they want to keep getting value out of them.
Well, in this case why won't they just sell it? I mean, if they don't need it now, they most likely won't need it in 5 years time...
It can be more complicated that that—take pride for example. Admitting you were wrong in buying that property in the first place is not a look that a company wants.