While I was with HP, I really never felt safe in job position. My managers (and HP in general) were always ready for the WFR call. I worked remote and felt as if I missed out on a lot of what was going on with my team, rally, it's hard unless you establish solid face-to-face relationships. When you are remote, it's very hard to be well informed - I would hear about changes within my organization from either customers or sometimes resellers or (on occasion)field team. Whenever I asked a reasonable and direct question to my managers, I would receive an answer that had no meaning and was so canned. If you are let go, you'll do better
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I think it depends on your manager and your team. All of my team is scattered across multiple states and countries. Most of us have not even met each other. We have to go into the office because Meg got rid of teleworking, but we basically get on conference calls the same way we would at home. My manager has weekly team meetings, and we have various other project meetings. We regularly meet with any teammates we need as needed using Lync (or now Skype). It just depends on how your manager and the communication within the team is done. We are a very productive team, at least until these latest WFRs were announced. Now all anyone does is ask each other to be a reference for their resume.
Most of my work colleagues work remotely and it got pretty difficult to do my job when I was the only person in the office. Back when I cared, i asked my manager to get people back in the office as this would help with communication and get stuff done quickly. Never happened. Nobody cared. Now I'm "working from home" applying for new jobs and learning new skills so it's not so bad. If they don't care then why should I?