The changes at Meta could be a warning shot for employees at other companies that are preparing to return to the office after two years of the coronavirus pandemic. Google, Amazon, Meta and others have long offered creature comforts like on-site medical attention, sushi buffets, candy stores and beanbag chairs to lure and retain top talent, which remains at a premium in the tech industry.
Meta has had a difficult past few months, though company officials say the changes to perks are not related. For the first time in years, investors have been questioning the long-term prospects of the company’s advertising business model. Its market capitalization has dropped by half, to $515 billion. And some employees are debating whether they should be searching for new jobs as they see the value of their stock-based compensation plummet.
Meta discussed the changes to its perks program for months as it explored how to shift to the new, hybrid workplace model, said two employees. The company has also expanded employees’ wellness stipends from roughly $700 to $3,000 this year in an attempt to accommodate for removing some of the other in-office perks.
“As we return to the office, we’ve adjusted on-site services and amenities to better reflect the needs of our hybrid work force,” a Meta spokesman said in a statement. “We believe people and teams will be increasingly distributed in the future, and we’re committed to building an experience that helps everyone be successful.”
Many workers were quick to gripe in the comment section underneath the post announcing the change, according to several employees who viewed the post. Just minutes after the changes were announced, employees asked whether the company was planning to compensate them in new ways and if Meta had undertaken an employee survey to evaluate how the changes would impact the staff.