The Perk-Cession Is Under Way at Some Companies

Big companies from Silicon Valley to Wall Street are scaling back the office extras many employees have come to expect

As interest rates rise and companies tighten their belts, white-collar workers have taken the brunt of layoffs and job cuts, breaking with the usual pattern leading into a downturn. WSJ explains why many professionals are getting the pink slip first. Illustration: Adele MorganCompanies are cutting back on prized employee perks from fancy coffee to free cab rides as they vow to trim costs and prioritize efficiency.

The fact you lead with ping-pong to represent caring for people's needs says it all really. Folks, If your employer thinks table-tennis is how to get the best of you, then you're at the wrong company.

I love watching the tech workers returning to India.

What happened to the Techie style of work environment?😂

The last episode of South Park sums up the state of work entitlement in America.

Reality finally taking hold. Have worked with several companies that had great perks but as bottom line went down so did the perks. Makes sense to me.

Get rid of the coffee and ping pong,but keep the health benefits,as that actually makes sense to have

우리는 누구나 흑을 보면 공통적으로 반응한다. 심지어 사람뱀마저. 사람의 약점을 알고 있지 않을까

Meriton Holdings | Europe 🇪🇺 This afternoon Demonstration against Peter Lim, the billionaire owner of Valencia CF who has bankrupted the club. LaLiga

高薪岗位会越来越少，对吧？

It’s stories like these that will make the rest of America think twice about bailing out anything in Silicon Valley. Welcome to the real world. Good luck.

Why don’t these companies cut back on CEOs pay and perks?

Company I used to work for bought a ping-pong table and I put in my 2 weeks notice the next day. Found a job that same day with a 25% pay increase.

It’s untaxed compensation. They’re basically evading taxes by running as many personal expenses as business costs.

Firing layers & layers of management is much more effective at cutting cost.

Free coffee isn’t a perk. It’s a necessity.

Maybe not so much compensation as a competitive edge to attracting talent. Perks are fun, they make your day a little better. And they're probably actually cheaper than paying everyone more money.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

South Korea companies to pay to resolve forced labour dispute with JapanSouth Korea said that its companies would compensate people forced to work under Japan's 1910-1945 occupation, seeking to end a dispute that has undercut U.S.-led efforts to present a unified front against China and North Korea That's very reasonable 'a united front against China' [sic] The US supremacist PoS coercing their lackeys into their malevolent, confrontational & saber-rattling stance because they can't bear to lose their economic supremacy. The US is the biggest threat to peace in the world & need to be pacified. are any still alive?
Source: Reuters - 🏆 2. / 97 Read more »

China Accuses the U.S. of Suppressing Chinese Tech CompaniesChina pushed back against the U.S. government's technology bans and accused the U.S. of 'ideological bias.' The same as China does. The true suppression of the Chinese companies is China itself. Specifically, Xi.
Source: Gizmodo - 🏆 556. / 51 Read more »

Why companies may sell your data to third partiesCompanies have a lot of information on their customers. What they do with that information can go beyond normal advertising practices.
Source: kgun9 - 🏆 584. / 51 Read more »

Portland, Oregon's last two Walmarts closing as companies see shoplifting surgesThe last two Walmart stores in Portland, Oregon, are closing their doors as companies across the board experience surges in retail theft. Stores closing in CA, now Oregon for same reasons. Both are controlled by corrupt Dems.. That puts an end to one-stop looting. Somehow... I doubt this highly and think that they simply cannot make enough money in these areas. If I was the city? I would sue Walmart over this and make them prove that shoplifting was the issue.
Source: dcexaminer - 🏆 6. / 94 Read more »

We now have an idea about the few crypto companies that have registered with the SECFor the first time, the SEC provided a list of crypto firms that have attained some kind of registration with the agency. Here's a look at their subsequent success rates. SECGov I know the entire crypto community doesn't want to hear this, but ICOs should either be banned or extremely limited after a long process of vetting. furthermore, all coins need to be industry-specific and publically-adopted as a financial trade instrument.
Source: axios - 🏆 302. / 63 Read more »

As chip sales dry up, Nvidia CFO says spending on AI will save companies moneyNvidia Corp.'s financial chief did not appear concerned that some have called for a drying up data-center sales growth as she reasoned that the efficiencies... Short term cyclical downturn in a bigger bill market
Source: MarketWatch - 🏆 3. / 97 Read more »