All articles tagged with #employee perks
JPMorgan Chase's new $3 billion headquarters at 270 Park Avenue features a state-of-the-art fitness center that requires a paid membership, causing some employee complaints despite other luxurious amenities, amid ongoing debates over returning to the office full-time.
Netflix is scaling back on some of its employee perks, including its parental leave policy and compensation flexibility, as part of a broader cultural shift amid investor pressure. The company is discouraging employees from taking the full year of parental leave previously offered, with most employees now taking around 6 to 7.5 months. Additionally, Netflix is limiting company swag and adjusting salary guidelines to align more closely with market rates. These changes reflect a shift towards efficiency and cost-cutting, similar to trends seen across the tech industry.
Amidst the wave of layoffs in the video game industry, a former Blizzard employee managed to secure nearly 10 years of World of Warcraft subscription codes using an internal company perk before being laid off. The employee, Adam Holisky, explained that he had stockpiled these one-year codes during his five years at Blizzard. This unusual parting gift highlights the impact of the industry's ongoing job cuts, with thousands of employees affected across various companies.
A memo written by Microsoft's head of HR in 1993, known as the "Shrimp and Weenie Guidelines," has resurfaced and offers lessons for today's tech companies. The memo urged financial prudence and cost-cutting, including halting the practice of handing out random T-shirts and other goodies for attending business meetings. Many tech companies are currently laying off employees and cutting back on perks, which has been jarring for employees who haven't lived through previous downturns. The memo reminds companies that excess can destroy success and asks the question, "Is your team fueled by weenies or shrimp?"
A memo written by Microsoft's head of HR in 1993, which urged employees to cut back on lavish spending and focus on cost-efficiency, has renewed resonance among tech companies today as many scramble to bring their costs in line with the new market reality. The memo, known as the "Shrimp and Weenie Guidelines," warned against excess and reminded employees of the values that made the company successful. With 554 tech companies having laid off a total of 167,004 employees this year, financial prudence is top of mind for many tech companies.
Google CFO Ruth Porat announced in a memo to employees that the company will be cutting back on some of its famous employee perks, such as closing some office cafes during slow periods and replacing equipment less frequently. The move is part of the company's cost-cutting measures to focus on AI investments and drive technology forward. The memo also mentioned other areas where the company plans to save money, including improving machine utilization and external procurement.