Will tech layoff fears end the remote work era?

If such fears end remote work, then we all can safely say that managers and executives would rather give up some performance in order to have personal power over their employees. There's simply not another way to read this situation.

I work for a bank, back in April we were asked to come to the office once a day, per week (we're divided into groups, each group comes to the office every fourth day). For the most of us this is not an issue, even for me that this means having to drive 200 km or 124 mi, (even driving this distance is cheaper than moving to the city and paying an apartment). But I've have talked with some of my coworkers and we would all collectively resing if management makes us fully come back to work in the office. Sorry for the clanky english btw.