Open Source: Return of the office
Hey all! In this week’s Open Source, an NC economist heads a big federal project and a local alliance wants to boost the LGBT+ business community. Plus, a little update on the housing market (it’s chilling).
But first, a few Triangle tech companies are making workers come back to the office, and some of the workers aren’t thrilled about it.
Return to the office or leave
Come October, two major Triangle tech companies (Bandwidth and Citrix) will require workers return to the office. Bandwidth, which provides voice and messaging software, tried a return-to-office mandate last summer. Now, it’s giving employees the choice to return to find new jobs.
Yet, one current Bandwidth employee told me the return-to-office mandate isn’t popular with many of the staff.
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Durham CHIP connection
On Tuesday, the Biden Administration tapped Durham’s Ronnie Chatterji to help manage the $52 billion rollout of the federal CHIPS Act. Since last year, Chatterji has been the Chief Economist for the U.S. Office of the Under Secretary for Economic Affairs.
The Durham chip manufacturer Wolfspeed hopes to receive CHIP Act funding as it expands into Chatham County. Perhaps the local connection will help.
A novel incubator
A Triangle association of LGBT+ and allied entrepreneurs hopes to create the nation’s first LGBT+-focused business incubator.
“Lending, leasing, basically, any resource that a non-LGBT business owner has access to is statistically not the same for LGBT individuals,” said Kade Kimber, board president of the LGBT+ alliance Harmony.
Home prices drop
Triangle home prices fell for the second straight month in August. Wake, Durham, Orange and Johnston all saw declines, and real estate agents say home-sellers must come to grips with new market dynamics.
National Tech Happenings
- Meta and Google, two tech giants with Durham ties, are quietly reducing their overall workforces. [The Wall Street Journal]
- High interest rates hit tech companies particularly hard, and the Fed hiked interest rates again. [CNBC]
- Row, row, row, your Peloton. The struggling exercise tech company introduces its first-ever rower. [USA Today]
Podcast Pick of the Week
- Office life and the way we work is constantly evolving. As We Work from The Wall Street explores the ins-and-outs of this shifting work culture (whether it’s remote, hybrid or in-person)
Thanks for reading!
This story was produced with financial support from a coalition of partners led by Innovate Raleigh as part of an independent journalism fellowship program. The N&O maintains full editorial control of the work.
This story was originally published September 23, 2022 at 8:58 AM.
