This is a common strategy nowadays. Not sure of the rationale
1) there was a hiring glut during COVID-19 for SWEs [0] that is now seen as a period of overhiring
2) private equity and larger institutional shareholders are seeing their commercial property investments bleed out [1]. research points to increased (or at least not diminished) efficacy of being fully remote [2] so there's obviously a trade-off that's pushing companies to assume that risk and personally I'm not convinced that it's due to the anti-social desire by execs for high-control alone
[0] https://blog.pragmaticengineer.com/software-engineer-jobs-fi... [1] https://fred.stlouisfed.org/series/COMREPUSQ159N [2] https://www.psychologytoday.com/us/blog/intentional-insights...