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Facebook owner Meta cuts off lavish employee perks
https://www.whatjobs.com/news/business-news/facebook-owner-meta-cuts-off-lavish-employee-perks
By Nithya Bose in Business News, posted March 15, 2022
Facebook owner Meta has cut off lavish onsite perks to its employees as the company prepares for its return to the office.
The Guardian reports the cutbacks were received with wide disapproval among the workers as the benefits like free laundry, dry cleaning and valet services will no longer be provided.
The timing of daily free dinner will change from 6 pm to 6.30 pm, making the employees choose between a free meal or free ride home as the company’s last shuttle bus leaves at 6pm.
READ MORE: MARK ZUCKERBERG SAYS FACEBOOK EMPLOYEES ARE NOW KNOWN AS ‘METAMATES’
Staff members were disappointed upon hearing the news.
Many complained in response to the change and some asked if Meta intended on compensating employees in other ways.
Others asked whether the firm had undertaken an employee survey to see how the new changes would affect the workforce.
The Facebook Parent company said that it would be enhancing its employees’ wellness stipend from $700 to $3,000 this year.
The present stipend covers costs related to physical or mental health, financial planning, and care for children, older people and pets.
Tracy Clayton, a company spokesperson said, “Our culinary services are first and foremost an onsite perk for people while they’re working in the office”
“We want food to be served to meet that need while people might be working late.”
Mark Zuckerberg, CEO of Meta revealed the new changes as the company is shifting to the metaverse, with a new coinage “metamates”, which his employees will be called.
The company faced its biggest stock market loss the previous month, when its shares dropped by 26.4%, leading to Zuckerberg's net worth slump by nearly $30 billion.
It has also revealed a first-ever decline in daily user members in February.
The company plans for staff to return from Monday, March 28.
Meta reported a plunge in its profit was due to a sharp rise in expenses as it invests in several metaverse projects.
Source: The Guardian
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