Goodbye, unlimited snacks… As corporations cut costs and shift to growth mode, cushy employee perks are vanishing fast. Meta ended free laundry, Salesforce canceled its wellness retreat, and Goldman Sachs nixed free cabs to the office. It’s not just the fun stuff: about half of US companies plan to cut benefits like parental leave, childcare subsidies, and adoption programs. Disappearing perks and layoffs are just a few symptoms of corporates' profit push, which could translate to better returns for investors.
TikTok on the clock… ’cuz the drama don’t stop. Last week the White House endorsed a bipartisan bill that could give President Biden the power to ban TikTok in the US (or force a sale) — and urged Congress to pass it ASAP over national-security concerns. It’s expected to pass in the GOP-controlled House, but its fate is more TBD in the Dem-led Senate. Critics of the bill could also bring challenges over free-speech concerns (FYI: 100M Americans use the app). A Tik ban would be a huge boon for Meta’s Instagram and Google’s YouTube.