I work in IT, there the situation for corpos who want to force RTO is just a nightmare.
There are a bunch of companies waiting with open arms and better contracts to gather these disgruntled workes with knowledge in the industry. So not only do you loose a lot, your competition grows stronger at the same time.
On top of that, if you dont need to rent a huge building at high price, massively cutting costs on overhead an maintenance.
And once the bleeding starts its hard to stop:
Others need to pick up more work, get pissed and then also leave for greener pastures.