Yeah, I hate to admit it but it is a positive. The "government subsidies" probably wouldn't have offset the real estate costs. At least not long term.
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Remote work makes the remote workers more expendable and more likely to be replaced by Filipino vendor employees. Which has happened in several areas. Almost all of them in those areas remote workers.
If I cared enough about being retained by this company I would make a push myself for working in the office in hopes of bettering my retention chances. But considering I don't care if I stay or go I'll just sit myself at home.
This is actually a positive for the company that they have adapted to remote work instead of forcing people to these offices to get money
Allstate had a similar agreement in Arizona back in 2018. Look at how that panned out. 5 years ago they planned to have 2500 jobs and build a new campus. Oh how times have changed.
https://www.azcentral.com/story/news/local/chandler/2018/12/10/allstate-plans-bring-2-500-jobs-possible-campus-chandler/2271621002/
https://apnews.com/article/north-carolina-allstate-incentives-47cfc3be5117d197f1969834c7bca572