I know for IT at least there is a reverse trend with outsourced work. But IT techs don't want to go back into companies anymore because now they make more as consultants and they have better working conditions without 24/7.

Sure, theoretically if everybody works at home... but there are language, time-zone, cultural and other barriers to consider.

Engineering as a service may work to a degree, but if you use an external service you really have to write specifications and they have to be extremely precise...