Every recent employer I've had uses a VPN to get into their internal network when you're not logged into wifi or ethernet from inside a building, so I don't see this Teams change as a big deal. Must be something for small employers without much, if any, IT infrastructure or IT dept.
Hardware dongles (e.g. yubikeys) have replaced required VPN logins to access internal sites at my recent workplaces. If you access any internal sites or do basically anything on your corporate laptop, there's definitely the potential for creepy tracking...
My guess, based on the reading article, is they're doing the locating via WiFi BSSID. So, VPN won't matter... But, it's easy enough to spoof a BSSID from home >:)