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The latest get your ass back in the office story: AT&T


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27 minutes ago, BabaYaga said:

Consolidate costly commercial RE?  Force people back to offices in lieu of mass layoffs and additional costly comp packages?  I've seen this movie before.

REIT's are gonna start taking heavy losses before long, and they're all leveraged to the tits

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They just rolled everyone back to Amazon.  Those dudes are fucking pissed.  It's pretty funny to watch.  I understand Amazons thinking on this though.  They own all the buildings.  They need to be occupied.  Their real estate portfolio is in the billions.  If they have to take a loss on that it will drive their stock prices down.  That's only a small fraction of their portfolio though.  The players that are commercial real estate only like CBRE Hines JLL Cushman Wakefield are going to be the ones that take the kick in the nuts first.

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1 hour ago, BabaYaga said:

Consolidate costly commercial RE?  Force people back to offices in lieu of mass layoffs and additional costly comp packages?  I've seen this movie before.

 

1 hour ago, MissingInAction said:

ATT wants people to quit.

I worked in Telecom for over 15 years. AT&T, TMO, and Verizon are ruthless in pursuit of the bottom line. Revenue is decreasing, need to reduce costs in line. 

Move or quit. Oh, I'm not going to pay for relo either. There, I just removed $100M from cost without incurring any costs! I'm a fucking genius!

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9 minutes ago, crash_davis said:

 

I worked in Telecom for over 15 years. AT&T, TMO, and Verizon are ruthless in pursuit of the bottom line. Revenue is decreasing, need to reduce costs in line. 

Move or quit. Oh, I'm not going to pay for relo either. There, I just removed $100M from cost without incurring any costs! I'm a fucking genius!

Yep

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I've always been hybrid... and by always I mean 10-20 years where I could work hybrid and I love it.  I can understand the frustration by some people who a) moved when the company told them they could work anywhere b) have to start wasting time commuting again.  Commuting is a beating and a total drain on time usage. 

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1 hour ago, FartingMonk said:

They just rolled everyone back to Amazon.  Those dudes are fucking pissed.  It's pretty funny to watch.  I understand Amazons thinking on this though.  They own all the buildings.  They need to be occupied.  Their real estate portfolio is in the billions.  If they have to take a loss on that it will drive their stock prices down.  That's only a small fraction of their portfolio though.  The players that are commercial real estate only like CBRE Hines JLL Cushman Wakefield are going to be the ones that take the kick in the nuts first.

CBRE and JLL have been handling a couple of our office moves and they have been a kick in the nuts to deal with so they deserve it 

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23 minutes ago, Zepol87 said:

CBRE and JLL have been handling a couple of our office moves and they have been a kick in the nuts to deal with so they deserve it 

That's funny.  CBRE was my employer until Amazon kicked them off the account and brought in JLL.  CBRE is contracts and more PM centric so they don't actually know how to do anything.   JLL is a lot more engineering centric from what I see so far but a lot more militant in their standards 

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18 minutes ago, rage-a-holic said:

Fuck that shit. I can do every bit of my work remotely with fewer distractions.

The only IT/Networking people that go into our offices right now are:

1. Lonely dorks that wander around and gossip/annoy other people because they have no lives outside of work.

2. Pathetic married guys who use the office to escape their wife/kids.

3. Pissed off AT&T folks who can't find another job.

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19 minutes ago, rage-a-holic said:

Fuck that shit. I can do every bit of my work remotely with fewer distractions.

The only IT/Networking people that go into our offices right now are:

1. Lonely dorks that wander around and gossip/annoy other people because they have no lives outside of work.

2. Pathetic married guys who use the office to escape their wife/kids.

Whycantitbeboth.gif

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13 minutes ago, goatsaag said:

Is an empty building somehow more expensive that an occupied one?

Absolutely.  They have retail tenants.  They also have the area that more foot traffic will serve.  Overall in terms of commercial real estate if you have 30 percent of your areas real estate unoccupied.  Tenants will break leases and negotiate for lower rent.  If there is no demand your property overall is going to be devalued.  The whole supply and demand shit.

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6 minutes ago, Neonmoon said:

WFH has now become another lever for the HR department. It has nothing to do with efficiency, effectiveness, work-life balance/etc. 

Want to increase hiring, offer WFH. Want to thin the herd, make RTO. 

Rinse, repeat.  

The WFH and RTO is just an executive change away. That is how fickle this shit is.

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They just rolled everyone back to Amazon.  Those dudes are fucking pissed.  It's pretty funny to watch.  I understand Amazons thinking on this though.  They own all the buildings.  They need to be occupied.  Their real estate portfolio is in the billions.  If they have to take a loss on that it will drive their stock prices down.  That's only a small fraction of their portfolio though.  The players that are commercial real estate only like CBRE Hines JLL Cushman Wakefield are going to be the ones that take the kick in the nuts first.

The big CRE firms are generally diversified into multifamily, industrial, retail, medical, etc. They will take one on the chin for sure but they’ll be okay.

As it usually goes in this country, it’s the smaller firms and banks who are going to be fighting for survival.
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You don't know how many people I'm trying to get a simple answer from and they leave this little cutsie ass message.  I'm working from home today so I may be napping or taking my puppy to the park.  I'll respond when I get the chance.  I'm a lowly peon and it pisses me off.  Imagine what a c level executive is feeling 

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4 minutes ago, FartingMonk said:

The work from home shit got messed up by the work from home people.  You can't put in your chat or email message hey I'm working from home today so I will respond to your calls later

Not saying it doesn’t exist but I’ve been 95% wfh for 8 years and have never seen anyone do that.  

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3 minutes ago, FartingMonk said:

You don't know how many people I'm trying to get a simple answer from and they leave this little cutsie ass message.  I'm working from home today so I may be napping or taking my puppy to the park.  I'll respond when I get the chance.  I'm a lowly peon and it pisses me off.  Imagine what a c level executive is feeling 

Yep. Four hours to respond to an email or phone call on their work from home days. 

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11 minutes ago, FartingMonk said:

The work from home shit got messed up by the work from home people.  You can't put in your chat or email message hey I'm working from home today so I will respond to your calls later

 

8 minutes ago, FartingMonk said:

You don't know how many people I'm trying to get a simple answer from and they leave this little cutsie ass message.  I'm working from home today so I may be napping or taking my puppy to the park.  I'll respond when I get the chance.  I'm a lowly peon and it pisses me off.  Imagine what a c level executive is feeling 

that's wildly unprofessional behavior and absolutely not acceptable in any context, assuming that this isn't just an anecdote that you picked up from a fw:fw:fw:fw:fw:fw

If those people act like that and get away with it, its on the leadership for not upholding and enforcing higher fucking standards for professional behavior. Write their ass up! Put em on a dashboard. They can fucking do something about it besides "well SHUCKS I guess I gotta kill WFH now!"

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5 minutes ago, Captainant said:

 

that's wildly unprofessional behavior and absolutely not acceptable in any context, assuming that this isn't just an anecdote that you picked up from a fw:fw:fw:fw:fw:fw

If those people act like that and get away with it, its on the leadership for not upholding and enforcing higher fucking standards for professional behavior. Write their ass up! Put em on a dashboard. They can fucking do something about it besides "well SHUCKS I guess I gotta kill WFH now!"

Defending Big Bad Profit man now…. How the turntables 

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Just now, Trey3216 said:

Defending Big Bad Profit man now…. How the turntables 

Wanting people to not waste others time is more a function of basic human respect and dignity and general professionalism, but I can see how you could confuse "profits" with that.

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1 minute ago, Captainant said:

Wanting people to not waste others time is more a function of basic human respect and dignity and general professionalism, but I can see how you could confuse "profits" with that.

I’m not confusing things at all.  

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3 hours ago, FartingMonk said:

They just rolled everyone back to Amazon.  Those dudes are fucking pissed.  It's pretty funny to watch.  I understand Amazons thinking on this though.  They own all the buildings.  They need to be occupied.  Their real estate portfolio is in the billions.  If they have to take a loss on that it will drive their stock prices down.  That's only a small fraction of their portfolio though.  The players that are commercial real estate only like CBRE Hines JLL Cushman Wakefield are going to be the ones that take the kick in the nuts first.

You forgot another aspect of bringing people back to the office, tax incentives.  Amazon has $750M in tax incentives for HQ2 alone.  You need people to be working in that location to get the credits.  Amazon seeks out tax credits for jobs everywhere as do most other major employers.  Most municipalities were pretty lenient during COVID, but that support is evaporating quickly.

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25 minutes ago, Deej said:

Everyone working remotely says that. 98% of them are full of shit. 

My office is a 2 hour round trip on Mopac in medium traffic. Any wrecks or construction, it goes up from there. 

Then it's 30 minutes per day finding a parking space and getting back and forth from the parking garage to my desk.

So if you think wasting 2.5 hours (or more) every day getting to/from work somehow increases productivity, you must work for the government.

 

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2 minutes ago, NeverMarryAStripper said:

Unless you’re spending the 2.5 hours you save working then it really has no effect

Most WFH FTE's during covid indicated at my last company that they worked longer hours.  Difference was in the late afternoon is was usually accompanied by an adult beverage.  

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10 minutes ago, rage-a-holic said:

My office is a 2 hour round trip on Mopac in medium traffic. Any wrecks or construction, it goes up from there. 

Then it's 30 minutes per day finding a parking space and getting back and forth from the parking garage to my desk.

So if you think wasting 2.5 hours (or more) every day getting to/from work somehow increases productivity, you must work for the government.

 

It takes you thirty minutes to park in the garage and get up the elevators? 

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41 minutes ago, FartingMonk said:

You don't know how many people I'm trying to get a simple answer from and they leave this little cutsie ass message.  I'm working from home today so I may be napping or taking my puppy to the park.  I'll respond when I get the chance.  I'm a lowly peon and it pisses me off.  Imagine what a c level executive is feeling 

Those people should be fired for being dumbasses.

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