littlestream, this is being introduced as a 'pilot project' so I don't think that candidates on this scheme will be 'forgotten' and redundant bah!
You still have two days back in the office to show your face and make sure you're not forgotten leh!
I think this concept is pretty common in the US and Europe. Companies get to save on office space and resources too, plus with phones, cellphones, video conferencing and the internet connection, it might not make much of a difference whether the employee is sitting there in the office cubicle or not.
I would love to be given the opportunity! You can save on the costs and frustrations of travelling to and from work every workday, plus on top of that, you can take unscheduled 'breaks'.
You can multi-task at home, especially during lull periods, where you can turn your attention to pottering around at home instead.
You can do stuff like the laundry whilst you're sitting in front of the PC, so it cuts down on the housework you have to do when the rest of your family is around and you can have more quality time with your husband and son.
I guess the discipline would be a problem cause you'd be tempted to sleep in late, to wander off doing more pleasurable stuff, cannot che diam diam (sit still) at your home office and become restless, etc. Plus if you're the sociable sort, you might even miss the interaction with your colleagues... but three days out of five isn't too bad, really.
And then imagine, if you're having a bad mood day or bad hair day or whatever, you don't have to force yourself to put on a front because you're at home and there's no need to meet anyone face-to-face.
Take on the challenge, littlestream!!
It's really exciting!