As companies embrace working from home and downsize their offices presence, a lot of the barriers to entry to offshoring start to disappear - if everyone is remote then a remote individuals in cheaper Eastern Europe will likely integrate a lot easier than when most the employees were sitting together in expensive London.
White collar workers could face the same globalisation pressure and wage deflation that’s happened to blue collar workers over the last 50 years or so.
Personally, if my team stays remote, then our next hire will most likely not be London based. There’s a much larger pool of European talent available to us and we’re now better setup to and culturally open to hiring remote first. This isn’t something our company would have considered before COVID.