If remote work is established properly, then your remote job will end instantly and will be shipped to Canada or Latin America (if bosses care about timezones) or to Eastern Europe or India (if timezones are not an issue). My company had multiple layoffs and then new waves of headcount. Most of the layoffs happened in the US. 100% of the new headcount is in cheaper countries.
Remote work seems glorious if you look at 2020-21. But beware the second order effects!
And extremely disastrous in the short run. If societies lose good paying jobs, that is asking for a populist uprising which typically goes pretty bad pretty soon.
This was always the case for companies that wanted to offshore. Remote work hasn't changed that.
[remote work] hasn't really been a reality the way it is today. During covid, we were forced to implement norms and tools for remote working (like Zoom). Also, we learned about replacing an expensive worker for a cheaper one one at a time. Earlier, there used to be entire teams in some remote location, so it was similar to having 2 islands (one large, one small) with a bridge which was crossed may be once or twice a year during annual trips to HQ. Now with one-new-person-at-a-time, teams don't lose productivity but over time, American workers are replaced with cheaper ones.
Source: seeing it myself in my current company. Also remembers: shareholder class is ruthless. If I can see this, they are seeing and acting on it as well.
Edit: cannot reply to the unity1001's reply so editing here - sorry to break it to you but earlier, there were only tools. Covid forced us to implement cultural norms and processes to actually work with those tools effectively. That was missing before.
Sorry to break it to you, but those tools were around and the companies that were outsourcing were already using them heavily way before. So that's not a factor for anything being different either.
Companies have been working with offshore talent for decades.
That was already happening. Remote work doesnt change anything with that.
Moreover, dont think that the senior dev in those other places will work for American companies for dimes like that. They will want the equivalent of top dollar in their country and that ends up being closer to the cost of the remote American dev when the obscene real estate/housing costs and general cost of living in places like SF or NY are removed from the equation. If you dont give that remote overseas dev the competitive rate in his/her country, he will either go with someone who does or he will just follow the traditional, more respectable career track in his country - like moving to manager positions in a respectable local corporation or launching his own business.
And if the American company goes for junior devs who are actually willing to be working for dimes when they start, they will get sloppy jobs like how they get with such cheap outsourcing now. And at the moment those juniors gain some experience, they will either ask for competitive pay or they will leave and take the traditional career route.
Every time companies either bring the jobs back, bring the people back or spend more on hiring good firms in their offshore country of choice.
Working in academic R&D, I've usually found myself in "virtual" teams spread over many time zones or even continents, so the people I work most closely with are not the ones I would see in the office building and accompany to lunch. We were effectively embodying more of a glorified coworking space before any of us had heard of this as a named concept.
My boss always professed a preference for onsite collaboration but then was, ironically, the one most often away on travel or offsite at other satellite locations in our city. I could be in the office daily but not see him for weeks, going even longer between substantive face to face conversations. Most coordination was already digital before the pandemic.
At the same time, our division with a dozen or so employees is supposedly tight-knit and managed as a matrix org to share responsibilities. But in reality, logical silos are formed. Only a couple people pay attention to any one project and usually do so for an entire, multi-year project lifecycle. When we were onsite, we would spend most days in our private offices and not have a work-driven reason to visit one another.
Our group went from all onsite to hybrid with several remote-only. The rest agreed to return to the office one day per week on a day they chose by consensus. After a year of this, I can see that the locals often struggle to get quorum for the scheduled onsite day. We've also struggled to get our nominal quarterly all-hands get togethers to actually recur.
Fast approaching my 50s, I think more about lifestyle effects on my future health, or about retirement savings and the economy as a whole. I don't see that outsourcing of our individual "remote" jobs is a risk worth pondering. Rather, it would be whole companies or sectors as part of bigger trade wars or economic crashes. That is another kind of conceit to worry that our knowledge work could be out-competed by foreign workers while the parent organization and managerial layers are not also subject to competition from foreign companies.