- Companies are cutting back on prized employee perks from fancy coffee to free cab rides as they vow to trim costs and prioritize efficiency.
- Before Facebook parent Meta Platforms Inc. laid off 11,000 workers, it ended free laundry and dry cleaning services for employees.
- Twilio Inc. cut its employee allowances for spending on wellness and books.
- Salesforce cut ties with Trailblazer Ranch, a 75-acre wellness retreat and the extra paid day off every month they gave employees for well-being.
- Tech companies have long been renowned as employee-first meccas that could easily afford amenities.
WSJ — Business — Employee Perks — Life & Work — At Work — Layoffs
The Perk-Cession Is Under Way at Some Companies
Companies are cutting back on prized employee perks such as fancy coffee and free cab rides as they look to trim costs and prioritize efficiency.