💻 Dell's many RTO complaints

COMPANY SPOTLIGHT

• Dropbox provides cloud storage and file-sharing services that allow users to store, access, and collaborate on files from any device, while also offering tools for syncing, backup, and team collaboration across platforms.

• 111 open roles, primarily in Engineering and Sales.

• Dropbox operates as a remote-first organization. Their policy is intended to have employees work remotely 90% of the time, and together in-person at company offsites the other 10% of the time.

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NEED TO KNOW

Remote work headlines:

• Spotify’s HR leader has masterminded their remote work policy (Fortune)

• JPMorgan’s leadership team shared that recent employee surveys showed a negative reaction to their office attendance requirement (Barron’s)

• Dell’s RTO policy is backfiring, with employees complaining it feels “haphazard” and is causing many unnecessary problems (The Street)

• Current political decisions may unexpectedly boost remote work (The Hill)

• With a well-documented hybrid policy, Citi is the most remote-friendly bank among the major Wall Street banks, and is offering two full WFH weeks while its peers continue to require full office attendance (Business Insider)

• Google is tightening its office policy but concerned about losing top talent (Fortune)

• This freelancer left the corporate world because she hated the office, and now has a thriving business that she can run from anywhere (Business Insider)

OFFICE SPACE

Remote impact on real estate

The demand for office space seems to fluctuate every month. Many companies are requiring more office attendance, but major office buildings are being sold at a tiny fraction of what they were worth just 6 years ago. Here’s some coverage of what’s been going on in the commercial real estate sector as a result of remote work trends:

• ‘Zombie Buildings’ at the heart of the office meltdown (Wall Street Journal)

• San Francisco saw its largest real estate transaction since 2022, though it was for a pair of buildings sold at a fraction of their $722M valuation in 2019 (Bloomberg)

• AI companies have been the lone bright spot in San Francisco’s office market (LA Times)

• Office space is now being razed or converted at a higher rate than it’s being built, for the first time in 25 years (New York Post)

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