It wasn't anything other than economic rationalism.
Hell, one of our big banks - the kind that report record profits every quarter - moved a segment of staff into new offices... and only provided 80% of the seats. "Everyone will work from home one day a week". They hotdesked these staff - no guaranteed desk, no personalisation, no real way to even know whether a colleague was in or where on the floor they could be found. The kicker is that this wasn't minimum-wage call-centre staff oe similar, this was six-figure employees.
In practice, certain desks were "reserved". Mere peons who hadn't been in the office on the first day it operated could take their pick of terrible desks on any one of three floors.
... if there were any left by 8am.
So in practice you had to get up at 6, log into their utterly terrible booking system (IE6 required and about two dozen ActiveX controls) and book it first thing.