SNAP Heads back to the office in 2023
A company spokesperson told Reuters on Monday that Snap Inc (NYSE:SNAP) will require 80% of its employees to return to office from end-February.
“We’re excited to get everyone back together next year with our new 80/20 hybrid model,” the company spokesperson said in an emailed statement.
According to Bloomberg News, the owner of photo messaging app Snapchat has asked its employees to be in office four days a week starting in February.
Among the first industries to allow employees to work from home when COVID-19 hit the United States was the tech industry. However, the way tech companies are choosing to work remotely is now changing.
Ride-hailing service Uber (NYSE:UBER) asked its employees to work from office twice a week last month.
Snap, a company based in Santa Monica, California, said in August that it would lay off 20% of its staff and shut down projects to cut costs amid a deteriorating economy.
Despite reducing spending in some areas, Snap Chief Executive Officer Evan Spiegel wrote that the company must now “face the consequences of our lower revenue growth and adapt to the market environment”, according to a memo reported by Reuters.
