The Real Reason Why Companies Are Desperately Pushing For People To Return To The Office

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The ongoing debate over working remotely or going into the office overlooks one major factor that could be disastrous for large cities, such as New York, Chicago and San Francisco.

With fewer people commuting into cities, they stand to lose their luster and reputation, as being the local epicenters of commerce, finance, media, entertainment, tourism and a vibrant social scene.

For example, New York City businesses are losing customers and revenue with people working remotely. The workers coming into Manhattan are spendingfrom Stanford University economist Nicholas Bloom’s WFH Research team. When business is down, tax revenue also declines. As a result, the city will have to cut back on municipal services. This means less hiring and accelerated job cuts to police officers, firefighters, sanitation workers, mass transit personnel, nurses and teachers.

 

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