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.

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