35+ years in the IT workforce here. Yep, dumbest idea ever. The vast majority of my office time was in cubicles, which are pretty good. Usually enough privacy to get things done. I did have a glassed-in private office for about a year at one company. That was productivity heaven. In retrospect I was dumb to leave that company when I did, but they started demolishing offices for cubicles about 2 years later. It is all…
In many cases the Federal tax code can also be the driver of these decisions because the amortization on building upgrades is way longer than cubicles. However, tables over cubicles is likely something else. To me, it's just cheap, like how call centers used to be (even they have cubicles now).