Just heard in passing that the new rumor/plan is now for all employees to return to office over the next year.
Objectively, this is a total slap in the face to both new hires told they'd stay fully remote permanently, and those who were told the same who were in office pre-covid and then told they'd be permanently remote - and have now moved away from 'hub spots' (Shows how highly they think of us if we don't know that they're calling them this so it doesn't feel as bad to say 'Office') with their families. Just imagining the management conversation where someone said "I have a great idea, we'll call them 'HubSpots'!" and then the other people in the meeting going "Oh yeah great idea that'll work!" is so funny, I almost laugh at that visual in my head.
Employee moral is declining faster than our earnings are dropping. How do you boost employee performance in a tough time financially? Ki-ling moral / upsetting them by forcing RTO? Smart move for sure (not)!
Sure, we beat Q1 Earnings estimates, but rev. + earnings are still down sharply YOY. Even though I am not in favor of RTO, I understand that this "Well, we have to do something!" attitude is, at it's core, just basic human nature in response to something going bad. Only that something is not a direct cause of the issue (larger market conditions are), and gets employees to start applying to other jobs, which maybe they want to avoid 'layoffs'.
Now, they're in too deep to reverse course, because that'll make them look indecisive. The snowball/avalanche that is RTO has started rolling down the hill and there's no stopping it now. I'm out.
This is all just allegedly, and speculation, of course.
Anyways, cheers!