500

‘Zombie Offices’ Spell Trouble for Some Banks - The New York Times (www.nytimes.com)

submitted 9 months ago by 1984@lemmy.today to c/technology@lemmy.world

123 comments fedilink hide all child comments

This is the real reason for companies wanting people back to the office.

All this talk about collaboration and team spirit is just the publicly given reason for wanting people back to the office.

The real reason is that now the owners of the buildings are losing money.

Cry me a river.

you are viewing a single comment's thread
view the rest of the comments

[-] Dkarma@lemmy.world 30 points 9 months ago

This is simply sunk cost fallacy. Companies signed leases. Now they regret it but can't back out so they've got to try to pretend it's worth it even if it costs their employees money out of pocket.

It's not really about owners it's more about leases and the company leasing the property "not getting their money's worth"

[-] evranch@lemmy.ca 28 points 9 months ago

Often they have signed leases with themselves. With original owners, holding companies etc.

This is a way of extracting value from a corporation without paying it as a dividend or salary. Dividends go to all shareholders. Lease payments go to one specific one.

So obviously if there's no reason to pay these leases anymore, somebody powerful is going to be very upset.

this post was submitted on 09 Feb 2024

500 points (95.8% liked)

Technology

59144 readers

2651 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS