A lot of these companies are locked in to 5,10 or 20 year leases. If they were sensible they’d just eat the loss and take the extra productivity and happier staff, but that’s not how the corporate hivemind works. They’re paying rent so they have to justify it by having bums on seats, or they’re bleeding money for what looks like no reason.
Most of them get tax breaks from the city, but only if they maintain a minimum occupancy. So they’ve lost their tax breaks and they want them back. As always, it comes down to money.