At work, I currently sit in an enclosed room that fits eight SWEs, all of whom are on my team. We have sliding glass doors on the room that we only use when we're having our stand-ups so as to not disturb the people outside the room. Incoming noise never seems to be a problem. All of the conversations I overhear are from my team members, and are thus relevant to me. I also have my back facing a wall. I consider this…
The company moved to a massive warehouse so they could give everyone more breathing space. It was basically a massive (30,000+ sq ft) open office. I thought it'd be much louder but the 40 ft high ceilings helped with that.
Personally, the pod/small team room situation was much better, especially as the main desktop support/IT guy. In the open office, my back was to a main aisle / circulation path and everyone could see how 'available' I was.
We had about 15-20 (out of 120) leave in the months prior to the move but I'm sure for a variety of reasons. I would take it with any grain of salt when seeing people start leaving when a company moves to a new building. Could be the new commute could just be the shake-up, though seemingly small, gives them a chance to assess where they are and what they want and look at new opportunities.