Shulou(Shulou.com)11/24 Report--

According to two Meta employees quoted by foreign media on December 13, in order to save operating costs, the company recently cancelled another benefit, which is to provide employees with a maximum monthly Lyft taxi fare of $200. This benefit is specifically targeted at Lyft services and is basically like a coupon for ride-sharing services.

A spokesman for Meta said: "We have adjusted some commuter services." While employees can still reimburse part of their office commuting expenses, it now depends more on the location, he added.

According to the outlook shared by Meta in its third-quarter results, the company is pushing ahead with restructuring and cost-cutting efforts, hoping to reduce total spending by $1 billion this year. "We are making a comprehensive and significant reform to improve operational efficiency," said David Wehner, Meta's chief financial officer.

Meta announced last month that it would cut 11000 jobs, reducing its workforce from 87000 to 76000. While Twitter and other technology companies, such as Apple, are asking employees to return to the office, Meta still supports telecommuting. The company plans to reduce office space in order to switch to desk sharing.

If all of Meta's 76000 employees use the $200-a-month ride-hailing benefit, Lyft's annual booking revenue would exceed $182 million. The ride-sharing company collects a certain percentage of commission from drivers and includes it as income in its financial report.

As a result, the loss of huge allowances for Meta employees could reduce Lyft's annual income by millions of dollars. Lyft has fewer passengers than it did before the outbreak, and its share price is down 74% so far this year, far more than rival Uber.

In addition to taxi-hailing subsidies, Meta employees have lost many other perks, such as free laundry at headquarters. The time for providing free dinner for employees has also been delayed until the company's shuttle bus takes them home, thus preventing employees from taking food home for dinner, thus saving them food costs. In the past, it was a common practice for employees to bring home meals.

Such benefits may seem strange to many, but for years, large technology companies have struggled to attract and retain engineers and other skilled workers in a highly competitive job market. As layoffs sweep across the industry, companies like Meta seem less eager to indulge their employees.

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