Sunday, 1 October 2023

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Meta millennial morale improves as stock recovers

Meta millennial morale improves as stock recovers

Meta Platforms Inc. employees are slowly starting to enjoy coming into the office more, bouncing back from a morale crisis that set in after 20,000 of their teammates were laid off over the past year. One reason: the company has revived a number of popular pre-pandemic perks, from branded T-shirts to happy hours.

Workers have spent most of the year fearing for their jobs during rolling cuts. Productivity slowed because employees were unsure what to work on, or if they should be working at all. Employees that survived the layoffs were sad that their friends were no longer at the company, and that the perquisites — the little extras that made work fun — were reduced, multiple current and former workers said.

Now, entire divisions of Meta, which owns Instagram, WhatsApp and Messenger, are ordering their branded T-shirts again, something that wouldn’t have been considered worth the expense in the past eight months, during Chief Executive Officer Mark Zuckerberg’s declared “year of efficiency.” One employee said they view this as a positive sign about the company’s performance, after two straight quarters beating Wall Street’s expectations on profits and revenue. Meta has also started rehiring some workers who were previously laid off, said other employees, who asked to remain anonymous discussing workplace conditions.

At the company’s Menlo Park, California, headquarters, most restaurants have reopened after their pandemic closures. Dinnertime, which used to be later in the evening, has been moved up to 6 p.m., employees said. Laundry services and haircuts are also back, Thursday happy hours are taking place, and unique vendors have set up food stands — making it more appealing to show up in person, now that in-office work is required three days a week.

A Meta spokesperson confirmed the company is bringing back amenities as employees return to the office. Other perks never left. “Dinner, happy hour and company swag never really went away, merely adjusted given the pandemic and budgets,” said the spokesperson. 

Staffers aren’t just noticing that perks exist, but that they seem to be supported — a contrast from last fall, when Meta’s snack bars started to look suspiciously bare, they said. At headquarters, La Croix, the sparkling beverage tinged with fruit “essence” that’s favored by millennials, started to run out in office fridges. 

When workers first started noticing the sparser…

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