A fully remote company has no capital cost when it comes to building rent, taxes, electricity, etc… that all shifts to the worker. How is it that the company gets the glory for a perceived “pay raise”?
If you need a certain headcount to provide your service, you need that headcount whether in office or at home.
If office space is not required (or not provided) then it is a cost savings for the company.
It's just not very significant. Just fire an employee instead, unless your offices are in Manhattan.