The Clap
Snap (NYSE:SNAP) employees will now have to work from the office 80% of the time.
What
Snap had adopted a remote/hybrid model for the better part of two years due to the COVID-19 pandemic. Now Snap will adopt an 80/20 hybrid model, which requires employees to work from its offices 80% of the time.
So What
This decision follows in the footsteps of several giant corporations, namely Twitter and Uber, which now require that employees work from the office.
Reduced spending and cost-cutting measures have not been enough to push Snap through tough economic times.
Now What
The company added that it must cope with lower revenue growth and adapt, as employees cannot work remotely forever.
