While there is starting to be more information out there, there is not a ton of evidence yet. I think companies are trying new things to better understand it. In some industries there are also government incentives to do this, healthcare being one.
Employees who have had their own offices and lose them hate it. Employees that never had their own office never seemed to care.
I think companies who employ this concept will find higher attrition rates, higher training costs for hiring new employees, diminished employee satisfaction, and higher recruiting costs.
As someone who is used to having his own office, I hate this concept and hope it fades away soon.