Snap and other tech companies have a new edict for employees: Return to the office – MarketWatch

There is an emerging battle line between tech employers and their workers in the office.
Management wants them back in at least three days a week; the rank and file want to continue working from home. Something has to give.
The latest salvo came from Snap Inc. SNAP, +1.13% last month, which expects employees to spend at least 80% of their time in the office, according to an internal memo obtained by Bloomberg. Snap Chief Executive Evan Spiegel says the policy, which starts in February, will help the company achieve “full potential” and allow workers to reach “our collective success.”
With companies contracting their workforces and pinching pennies amid a wobbly economy, companies increasingly see onsite workers as essential to maximizing revenue. Indeed, market researcher IDC predicts large companies that “deploy reactive and tactical hybrid work models” will suffer a revenue loss of 20% in 2024 because of job attrition and underperforming teams.
Nearly 500 employees at Inc. AI, -0.42% fill three floors of an office building tower in Redwood City, Calif. It takes a trip around the expansive parking lot to find a space.
“Everyone is here. Have been for a year,” company CEO Tom Siebel told MarketWatch. “Look at that packed parking lot. People need to interact in person to effectively collaborate.”
Other tech executives anticipate a return to work after years of COVID-mandated isolation. “You will see more momentum” of employers pressuring workers to return to the office at least four days a week, Box Inc. BOX, +0.18% CEO Aaron Levie told MarketWatch. “It is super important to have people work side by side and in person.”
Adds Paul Friesen, chief marketing officer of Rapid, which advocates three days in the office a week: “We value having employees come together, collaborate and drive productive outcomes in person while also understanding the new world work environment and the need to balance in-office with work from home and remote experiences.”
A study that looked for associations between step count and disease found the biggest protections against most diseases among those who walked close to 10,000 steps a day.
Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron’s and USA Today. Follow him on Twitter @jswartz.
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