A lot of developers stay only because of the generous work-from-home policies in some divisions, that's it.
If you work from home and are not wanting to be laid off, you need to be aware that people who work from home are not counted in WARN notices. Consequently, they can be preferred targets for layoffs.
I know someone who, after a layoff in their group, was suddenly asked by the manager if they would like to work from home. They didn't have a great relationship.... just suddenly they were offered work from home. They were able to leave fairly quickly afterwards, but I expect they were planned to be the next on the layoff list. They were given a difficult project, that should have been worked on by a large group, QA support was removed, and there was no way they were going to succeed. They were being set up. Be aware that working from home can be a carrot that leads to a layoff.
above is from @W3OB5t8-2bsk
In addition, I believe in the article on IBM that was posted here a while back, I believe they mentioned that the company wiped out people working from home as part of the strategy to lower costs. Often people working from home got there by being exceptional at their jobs, but it doesn't necessarily count, when a company it looking to cut heads. Look at the decimation of the sales force and replacement with cheap copies in the hubs. No thought about who does good work is considered. You are just another body at Oracle.
People from home can also be resented by the people they work with.