The thing I don't like is that so much of the cost cutting goes to companies. It's not just the office space, it's also furniture, electricity, water and so on.
While the worker save time and costs for transportation they usually don't get any compensation for the wear and tear of their furniture or the need for extra space for work area.
Sure, but a good desk or chair can be quite expensive to buy. Sitting badly can really mess you up.
But the transportation of the employee isn't a problem that an employer care about usually. The costs for office space on the other hand is just a saving that companies pocket and pass over to the employers. That's why I feel that companies should give a stipend for the office space needed by the employee, including computers and screens of course.
My work gives me a $100 monthly stipend to cover internet and incidental costs for my home office. It's not a whole lot but it's a nice touch on top of my salary + cost savings of working from home.
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