Snap Urges Employees To Resume Full Time Office Starting February

Snap Inc SNAP CEO Evan Spiegel told employees that he expects them to be in the social media company’s offices in person 80% of the time starting in February.
“I believe that spending more time together in person will help us to achieve our full potential,” Bloomberg reports citing his internal memo.
That means an average of four or more days per week in the office for full-time employees, with some flexibility allowing for tasks such as client meetings to count as in-office time.
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The new “default together” policy will apply to employees in all 30 global offices for Snap.
Spiegel said. “I believe that ‘default together,’ while retaining flexibility for our team members, will help us to accelerate our growth and deliver on our strategic priorities of growing our community, reaccelerating our revenue growth, and leading in AR.”
The maker of the visual communication app Snapchat has spent much of the second half of this year narrowing its focus after failing to grow its revenue as marketers reduced their advertising budgets.
In August, it fired 20% of its workforce and cut projects that failed to contribute to revenue growth or its augmented reality technology.
Price Action: SNAP shares traded higher by 0.81% at $9.92 in the premarket on the last check Tuesday.
Photo by Souvik Banerjee from Pixabay