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Jonathan Price – CRE & Flex Expert
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Is the Great Resignation about to hit the brakes? Real estate tycoon Stephen Ross thinks so.
“The employees will recognize as we go into a recession, or as things get a little tighter, that you have to do what it takes to keep your job and to earn a living,” Ross said in an interview with Bloomberg.
The comments were related to many workers’ desires to continue working from home and their resistance to return to a centralized office full-time.
With a recession looming, Ross believes the threat of cutbacks “will bring people back to the office”.
Of course, it’s not unsurprising that an owner of commercial real estate would advocate a widespread return to the office. Still, Ross isn’t alone in his thinking. Elon Musk recently made his feelings about remote work known in a strongly worded email to Tesla employees, effectively stating that remote work would not be tolerated there.
Other companies have adopted a similar stance, and yet in a tight labor market – and given the ability to cut costs on office space by allowing people to work from home – many employers are happy to allow remote and hybrid work to continue.
