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submitted 6 months ago by return2ozma@lemmy.world to c/news@lemmy.world
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[-] Altofaltception@lemmy.world 36 points 6 months ago* (last edited 6 months ago)

CEOs can make more money by offloading office costs to the employee - if your work force is remote, you don't need to pay for an office space.

This increases your profit, because your expenses are lower.

[-] krashmo@lemmy.world 41 points 6 months ago

But you can't invest all that stolen money in inflated office building real estate prices either.

[-] CosmicTurtle0@lemmy.dbzer0.com 9 points 6 months ago

This exactly. My boss said the quiet part out loud the other day.

The CEO owns the building. He pays for the electrical, water, etc. All of that is wasted when only a handful of people come into the office.

So...he required all of us to be in the office so that his investment works out.

[-] eltrain123@lemmy.world 4 points 6 months ago

Or he could sell the asset, recoup what value he can from it, and save the utility/service/material expense associated with running a physical office.

It will eventually even out. It takes time for new business to displace old models, but it will eventually work itself out. In business, ‘no cost’ vs ‘some cost’ will always move toward ‘no cost’. In the short term, businesses that hold physical property (at least the ones that don’t need physical office space) are trying to do what they can to minimize the loss of value from falling commercial real estate values. Inflate the value, sell the asset, then let someone else take the loss.

[-] Zaktor@sopuli.xyz 2 points 6 months ago

Yeah, but the CEO personally profits from RTO, while the company profits from reducing their office footprint. Easy choice. He's not loyal to the company and neither should @CosmicTurtle0@lemmy.dbzer0.com be.

[-] Buddahriffic@lemmy.world 1 points 6 months ago

If the company is publically traded, shareholders could sue over that conflict of interest.

[-] Fogle@lemmy.ca 4 points 6 months ago

And it also helps the employees cause they can claim part of their living expenses for business use

[-] Zaktor@sopuli.xyz 1 points 6 months ago* (last edited 6 months ago)

Not in the US. They took that away, I think with one of Trump's "tax cuts". Now you can only claim it if you are a business (like a contractor or an independent lawyer).

this post was submitted on 06 May 2024
373 points (96.3% liked)

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