Empty offices are a problem that could result in another run on the banks, some economists have warned, with swaths of new office buildings financed on short-term loans with no leases taken out to pay for it. Morgan Stanley estimates that $1.5 trillion in commercial real estate loans are due to be repaid by 2025.

With 176 offices across the world—some of which cost more than $1 billion to build—it’s perhaps not a surprise that Bloomberg is keen to get his own staff back through the doors, a sentiment echoed by JPMorgan CEO Jamie Dimon.

top 4 comments

sorted by: hot top controversial new old

[–] came_apart_at_Kmart@hexbear.net 1 points 1 year ago

remote work isn't a social problem that must be ended. Mike Bloomberg is a social problem that must be ended.

[–] fox@hexbear.net 1 points 1 year ago

Sorry Mike but it's not really my problem. Maybe stop buying Starbucks every day. Think about getting into the trades if you're looking for a lucrative career. Just pull yourself up by your bootstraps. Practice budgeting and personal wellness.

[–] NeelixBiederman@hexbear.net 0 points 1 year ago (1 children)

But we proved the work can be done remotely for a sustained period of time. It cuts down on traffic and lessens exposure to illness. We have a new model of work and there's no putting the toothpaste back in the tube

[–] KarlBarqs@hexbear.net 1 points 1 year ago

Porky and the PMC can't stand the idea of their workers not being completely under their thumbs.

If you work from home, the work gets done, but you might also be doing something like reading a book, or watching Netflix while working. You might be working in casual clothes, or playing with your cat.

In an office though, Porky has control. They can dictate everything, police everything. Make sure every minute has you working, police your clothing choices, force overtime, force office team building events. The PMC thrives on control.