A million times this.
My entire office could do their job from home as even when we need something we have to email our team leads and CC our manager so I could be doing that at home, in comfortable clothes, not fighting 50-something men for access to 4 stalls and not fighting 100 something people for 2 microwaves. I mean, to be honest, getting 4-5 hours of my time back every week would actually a huge compensation... after you remove my vacation that's like 8 days a year of free time I'd get back.
But alas, my employer would never hear of working from home. Likely because of the ages of the corporate leadership: Chairman & CEO is 75, President & COO got his first degree in 1987 so is 'young' at 54~, CFO & EVP is 66, CIO is 59, VP of ops is 58, Information Services EVP & CIO is 60...
Good luck selling remote work to corporate leadership types that have 30-50 years of old-school corporation under their belts.
I'm sure any cost savings would probably be kept by the company and not not passed on to employees but I'd save 20-25 minutes of commuting a day (plus the half hour every day I waste sitting at my desk off the clock because the tardy policy is terrible, accidents are frequent on the way in and logging in to your computer and getting the time keeping software open can take as long as 5 minutes) so once you remove my vacation weeks that would get me 8~ days of free time back which alone would be nice. Plus the reduced mileage/maintenance/fuel etc for my car.
I wish I could find remote work so bad, or that my employer would adopt it.