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We also have BYOD here. It was also announced in bright colours.... but the downside was mentioned at the end: you have to pay for it yourself. If anything goes wrong, you are yourself responsible for replacement.
To me, this just a very obvious move to save some money. And I disagree with the statement "the company does not pay for your clothing as well": I can not work without a PC and so this to me is a production facility that needs to be supplied by the company. You would not excpect the manufacturing worker to bring his own assembly line or the truck driver of a logistic company to supply his own truck.