Snap Inc, the parent company of Snapchat, has informed workers that they will need to be in the office 80% of the time by the end of February.
The company’s move harkens to the early days of the pandemic, when businesses were sure that the health crisis would quickly blow over and employees could return to the office. This led to countless postponements and eventually leaving work arrangements in limbo.
However, 2023 may tell a much different story.
Snap Inc. employees will be returning to the office on a four-day work week model, allowing them to still have a sense of flexible working.
“After working remotely for so long, we’re excited to get everyone back together next year with our new 80/20 hybrid model,” a spokesperson said.
As the threat of Covid-19 dwindles and businesses struggle with over-hiring, many companies in the tech industry have turned to layoffs to offset losses. Snap Inc itself announced it would be laying off 20% of its workforce back in August.
Organizations like Snap are seemingly preparing for an incoming recession, which could see revenue growth fall even further.
Companies bringing employees back into the office may hope to set off a spark of innovation and collaboration in order to stay afloat during the economic downturn.