This is a good move (except for location-based pay), and follows Facebook's reversal where they expanded full time remote work options to most employees (https://www.facebook.com/careers/life/what-remote-and-flexib...). If Google, Amazon, and Microsoft (beyond LinkedIn) don't smarten up, they will experience a drain of their best talent to other companies. Just as a reminder, the common trope that physical co-working allows innovation through chance meeting has no evidence (https://www.nytimes.com/2021/06/23/upshot/remote-work-innova...).
"LinkedIn employees who move locations could see their pay adjusted based on the local market where they're based, said Greg Snapper, director of corporate communications."
That's subsidizing coming to the office. Better than mandating but still a little messed up.