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As a datapoint from the other side, my company (big tech) is holding the party line no matter what. Lower level engineer or director - if you don’t come in the requisite number of days a week, you’re out. It’s a bafflingly short-sighted move, but company culture is more important than anything apparently.
Yeah, that’s my guess too. I assume there’s some nuance to it that I’m not privy to, but real estate has to be a huge factor.