Recession and Return-to-office

Recession and Return-to-office

Throughout the pandemic, employees have gained considerable leverage in the job market, from wages to benefits and even flexibility. This has made it difficult for employers to force remote workers back into the office. But times are changing. Amid various business challenges like market volatility, rising inflation, lagging revenue and a high risk of recession, many companies are slowing down with hiring and in some cases, even letting workers go. 

Meta, Twitter and Uber are among some companies that have pushed back return-to-office plans for employees. Dara Khosrowshahi, CEO of Uber wrote in an email to employees that the company "will treat hiring as a privilege and be deliberate about when and where we add headcount." Meanwhile, a Meta spokesperson said, "in light of the expense guidance given for this earnings period, we are slowing its growth accordingly."

Carvana and Robinhood are companies that went on a hiring streak recently and are now letting go of workers. Robinhood CEO Vlad Tenev announced that the company would be letting go of approximately 9% of its 3,800 employees. As for Netflix, the company recently laid off 150 employees. This quickly shifting employee-employer dynamic could give companies the ammunition to take a harder line against the full-time work-at-home arrangements that many employees have pushed for, according to corporate policies experts.

Source: CNBC

You might also like

For several reasons, the IT sector is appealing to job seekers. ...Read more

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Articles

The current unemployment rate in the US stands at 6.7%, which is almost double the rate in February ...Read more

This Thanksgiving is going to be different, no doubt! But it need not be different in a negative se ...Read more

Student loan debt is a crisis that has been making its way through The United States for quite some ...Read more

In the United States of America to operate any type of large automobile, you need a license. This i ...Read more