The whole memo just reeks of not trusting your employees.

These memos are always basically admissions of their own incompetence. If you distrust your employees this much and have created a culture where people aren't getting their work done without it being noticed, that's on you.

Isn't it a "we want to reduce our workforce but we don't want to pay redundancies, so we're hoping many of you leave 'voluntarily'.".

Well I don't trust my employer so...

A lot of the anti WFH wave comes from companies discovering that they actually can't trust some employees to do much work from home.