Current Events > Remote Work 'costs' Manhattan 12 billion a year

(+) Yeah! (+)

You mean it saves workers 12 billion a year? No No It costs our city 12 billion!

https://nypost.com/2023/02/13/remote-work-costs-manhattan-12-4-billion-per-year-report/amp/

Manhattan-based workers are spending at least $12.4 billion less per year than they were before the COVID-19 pandemic drove a shift toward remote work, according to calculations conducted by Stanford University economist Nicholas Blooms WFH Research group and reported by Bloomberg on Sunday.

On average, Manhattan workers are spending about $4,661 less per person in the areas near their offices the largest loss per employee of any major US city, the study found. The typical office has seen a 32.9% reduction in days worked on site.

Less spending by workers in the central areas means a lot less sales tax revenue, Jose Maria Barrero, a professor at Mexicos Instituto Tecnologico Autonomo and a member of the WFH Research group, told Bloomberg. If you have fewer commuters, that means less revenue.
New York City Comptroller Brad Lander warned that the trend represents a risk to the tax revenue needed to maintain high-quality services.

If less income tax is being paid in New York City, then its hard to figure out how to capture enough value to maintain the subways and invest in the schools and keep the city safe and clean and all the things that really matter, Lander told Bloomberg.
The researchers compiled the figure by multiplying the annual inflation-adjusted loss in spending per worker by the US Census Bureaus estimate of approximately 2.7 million Manhattan-based workers in 2019.
Many companies have embraced a return to work model featuring a hybrid schedule, where employees work in the office for three or four days per week.

THIS is why they want you back in the office

THEY make money off you going into an office

Also many large companies get tax deals with cities for facilities and if the numbers are too low they get those deals pulled.

BuckVanHammer posted...

Also many large companies get tax deals with cities for facilities and if the numbers are too low they get those deals pulled.

Yep the city getting tax revenue and the companies go hand in hand. So the city screaming about losing 12 billion is put into the ear of CEOs strong arming their workers.

But let us note this is a gain for the worker. They are saving more money! Probably not 12 billion but quite a substantial amount from gas saving, food saving and whatever else.

Remote Work saves workers money!

Is that so wrong?

I think different jobs should have their say what their job requirements are if it is reasonable. What those reasons behind them shouldn't matter.
People are not held prisoner if they want to go to a job that allows remote work.

NYC better adapt or stop crying

Hmmm I don't give a shit about the corporations that this might be affecting, but I can see how this can hurt local vendors or mom and and pop restaurants and shops the relied on "lunch break business" from people at these jobs.

I can see how that can be a problem, but I don't know what an answer would be.

BuckVanHammer posted...

Also many large companies get tax deals with cities for facilities and if the numbers are too low they get those deals pulled.

Maybe these companies should budget better.

ScazarMeltex posted...

Maybe these companies should budget better.

CEO: I made mistakes. We didn't budget properly. I take FULL responsibility.
So I am announcing that I will give myself a large bonus and fire 10,000 employees.

It was a hard decision but it had to be done.

"You have to pay more for gas, travel, lunch, time ect so WE can make our money!"

This is basically watching wealth flight happen in real-time.

Why is this shocking? Downtown cores are economic drivers of cities and remote work hurts them. Of course cities want people returning to the office, as it keeps real estate, local businesses, and general commerce running.

And I'm not saying that's better or worse overall, but it is decidedly worse for them.

K181 posted...

Why is this shocking? Downtown cores are economic drivers of cities and remote work hurts them. Of course cities want people returning to the office, as it keeps real estate, local businesses, and general commerce running.

Why you think this is shocking?

This country is a fucking joke

Because they're fucking dumb assholes.

Federal is already considering nixing some of the HQs and sites in DC into real estate properties because of our sick telework agreements, quality growth, and cost-cutting plans for employers and employees.

Typical corporate propaganda spinning horseshit.

K181 posted...

Why is this shocking? Downtown cores are economic drivers of cities and remote work hurts them. Of course cities want people returning to the office, as it keeps real estate, local businesses, and general commerce running.

And I'm not saying that's better or worse overall, but it is decidedly worse for them.

So heres the thing. You aren't owed people's business. People shouldn't be forced to commute when their job can easily be done remotely just so local business can get a cut of their money.

ScazarMeltex posted...

So heres the thing. You aren't owed people's business. People shouldn't be forced to commute when their job can easily be done remotely just so local business can get a cut of their money.

But what if you CAN force them :D

you can boss them around and rule them and MAKE them spend their money where you please

:D

Why not move the office to the suburbs?
Why does it have to be downtown, where the taxes suck?

Questionmarktarius posted...

Why not move the office to the suburbs?
Why does it have to be downtown, where the taxes suck?

deals already done

Questionmarktarius posted...

Why not move the office to the suburbs?
Why does it have to be downtown, where the taxes suck?

The smart companies do (a little wayyyy too far in bumfuck outskirt areas tho) or they moved on to remote permanently *shrug*

Theyre spending that money somewhere else. Amazon and other delivery services need to step up and fight for my right to not leave my home

Questionmarktarius posted...

Why not move the office to the suburbs?
Why does it have to be downtown, where the taxes suck?

Why have offices at all? The fact that most jobs were able to done remotely was shown during what passed for lockdown here in the US.

ScazarMeltex posted...

Why have offices at all?

But... think of the middle-management!

Jiek_Fafn posted...

Theyre spending that money somewhere else. Amazon and other delivery services need to step up and fight for my right to not leave my home

Not quite.

1. don't have to drive long way to work
2. don't have to buy coffee from someone else can make it yourself
3. can cook your own breakfast not stop at some place on the way due to early hours
4. no need to pay convenience fee for something during the day because you are at work and have to buy it quickly
5. parking
6. train

Questionmarktarius posted...

But... think of the middle-management!

Yeah god forbid they get real jobs

the office sucks. wfh is better... and it feels better too.

NoMeLx22x posted...

Hmmm I don't give a shit about the corporations that this might be affecting, but I can see how this can hurt local vendors or mom and and pop restaurants and shops the relied on "lunch break business" from people at these jobs.

I can see how that can be a problem, but I don't know what an answer would be.

You need to make people want to go to or be in these areas for other reasons.

businesses set up shop around offices to make money from them
if there are no people there, then businesses need to stop being there and need to get more creative

time for cities to adjust

Bio1590 posted...

You need to make people want to go to or be in these areas for other reasons.

Yeah I agree. And have good infrastructure to get those people there that don't feel like driving in city traffic.

Only problem is that infrastructure costs the city a lot money which they're losing a decent chunk of by not having the usual amount of money come in to the city from people working in it.

It's a real catch 22 situation.

WingsOfGood posted...

Not quite.

1. don't have to drive long way to work
2. don't have to buy coffee from someone else can make it yourself
3. can cook your own breakfast not stop at some place on the way due to early hours
4. no need to pay convenience fee for something during the day because you are at work and have to buy it quickly
5. parking
6. train

People have been wfh for awhile and still have no savings. They're spending it somewhere. Whether that's pruce gouging or other services completely is irrelevant. Those people profiting should lobby to keep wfh a thing

And this is the main reason they want us back. At the same time there was an economy dependent on this already and that included small businesses as well.

We are heading towards a dystopia

Interesting. I've heard of tourist traps, do we have worker traps?

"We aren't exploiting you. That's just the high standard of living here!"

Now there's no excuse and people have found them out. Hmmm....

Questionmarktarius posted...

Why does it have to be downtown, where the taxes suck?

Control. Because the taxes and the price gouging don't suck for the people who are taking it from you.

"Why can't poor people be smarter with their money? Also, why aren't poor people spending more?"

I was just having this conversation with someone the other day.

HylianFox posted...

"Why can't poor people be smarter with their money? Also, why aren't poor people spending more?"

:|

Questionmarktarius posted...

Why not move the office to the suburbs?
Why does it have to be downtown, where the taxes suck?

Conservatives. It's a part of federal zoning laws.

Crooks. All of them.

ScazarMeltex posted...

So heres the thing. You aren't owed people's business. People shouldn't be forced to commute when their job can easily be done remotely just so local business can get a cut of their money.

Meanwhile, Elon Musk has made it so everyone is basically forced to read his Tweets.

If businesses can find a way to force you to use their services, they will
>_>