I don't think it is uniformly true
i have a lot of product managers and engineering staff scattered all over England, Scotland, Netherlands, France, Poland, Germany, and Italy. our company did early terminations on a bunch of leases and kept a few locales where Sales folks gather. in our case, it was easier to offer our staff a small additional salary to cover more utilities at their home offices and a stipend for a home desk (etc..) than cover leases.
we do tend to try to encourage our staff to come to office once or twice a month where practical however we don't see going backwards as our flexibility makes us more attractive, and allows our staff to maintain a better work/home life balance. disrupting our staff's productivity in the name of making a real estate manager happy isn't really on.