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irvz89 t1_izzieel wrote

This was only for trips to/from a Meta office, and only when a company shuttle wasn't available - so really not a big change for most employees I'm guessing

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reddlvr t1_izzokf1 wrote

This is for looks more than anything else then. With most of meta WFHing I doubt this expense was the slightest blip to their bottom line.

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Blrfl t1_j01wfuw wrote

Even if they weren't actually spending much on it, they still had to book it as a potential liability.

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roboninja t1_j02h8wb wrote

To get a deal they probably had a minimum monthly spend and were not hitting it with usage.

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[deleted] t1_j004dtw wrote

[deleted]

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noobmax23 t1_j0122dz wrote

Once or for the month?

3

gurenkagurenda t1_j01txp4 wrote

If you live in SF, it would get you a handful of round trips. If you live a bit further down the peninsula, where the housing prices are merely outrageous rather than inconceivable, $200 will cover at most two round trips.

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OnlyFAANG t1_j0229y9 wrote

Can confirm. Menlo Park headquarter to sf is like $90.

1

[deleted] t1_izzs6g6 wrote

[deleted]

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ramblinginternetnerd t1_j00h0f6 wrote

Indirectly...

Executive pay is disproportionately in stock so... they've cut executive pay by around 60% in the last year.

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ArmsForPeace84 t1_j02gxqu wrote

And depending on the vesting schedule, they might still be stuck in it when Meta declares bankruptcy.

What a shame...

1

crtjer t1_j01v5ig wrote

Yeah but this perk is kinda pointless. It was only drives to and from campus and when the shuttle wasn’t available. I don’t know my work doesn’t have a shuttle

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Ghstfce t1_j0095rj wrote

"Sorry guys, we have to put legs in a virtual reality world that no one wants."

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DetritusK t1_j01s8g8 wrote

He just realized people have legs. Why pay for Lyft when then can walk?

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Familiar-Turtle OP t1_izzecse wrote

The move comes as Meta seeks to reduce exorbitant costs in the face of declining profits and recession. The Lyft rides for employees costed up to an estimated $180 million per year for the company’s 76,000 employees.

To those with no business insider account: https://www.removepaywall.com

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kernanb t1_izzko6q wrote

$180 million per year implies that all 76,000 employees take full advantage of the $200 a month Lyft perk. That calculation seems bogus.

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redyouch t1_izzmdvc wrote

Worked at Meta and never saw anyone use this perk my whole tenure.

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MLFanatic1337 t1_j0039v3 wrote

Same thing at amazon. $150/month in rideshare credits but you have to file an expense report for each ride and your boss has to approve it and it just looks bad if you are asking your manager every day for expensing $12 Uber rides.

I think the system has friction on purpose to prevent usage with the illusion of a perk.

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sign_up_in_secondss t1_j00dip1 wrote

same bait and switch when travel says you can book business class for flights over 7 hours in length but it has to go to your manager, director, and VP for approval

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TotallyNotDesechable t1_j00ekkp wrote

Ah i fucking hate this. my most frequent travel I do that it’s once per month is 7:56hrs (policy is 8hrs)

At least I can keep the miles tho… but still. I fucking hate it.

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ThePhantomTrollbooth t1_j00ignn wrote

If either destination has another airport, I would 1000% be checking those flight times.

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DrunkensteinsMonster t1_j03o1gf wrote

Conveniently you can get basically anywhere in the Continental US in under 7 hours regardless of where you are.

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JackfruitCountry t1_j01flbt wrote

Google doesn’t do this. Gross that other tech companies do. Hope they don’t follow suit.

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Konras t1_j0136fs wrote

Why does it look bad? If that is a perk, use it.

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MLFanatic1337 t1_j015iqi wrote

You have to send a daily email to get reimbursed to your manager if using it. Software managers already have no time in Amazon. Entry level tech people get at least $75/hr straight out of college, so it looks really bad to ask your boss to spend time each day approving the expense to actually receive the perk.

If they start to resent that daily paperwork, you get delayed for promotion or are first on the chopping block during layoffs.

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Konras t1_j016c8b wrote

Then perhaps a system for bulk approval of those request should be created?

Also that is the role of managers. If they want to do actual work, they did choose wrong career path.

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themagictoast t1_j01csu9 wrote

This is a “use it or lose it” benefit so it’s not really in the company’s interest to help you claim it.

These are very common in big companies to make your bottom line “package” look impressive without adding to your actual base pay (which the important benefits like pension and bonus are tied to). Usual corporate nonsense.

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Konras t1_j01ehdl wrote

However it should be in company interest to reduce administrative workload on managers. It just sounds ineffective for me.

Either way, companies put those bonuses forward to supposedly limit turnover, but in reality they piss off their staff and achieve the opposite.

−3

TeaKingMac t1_j01j4ku wrote

>it should be in company interest to reduce administrative workload on managers.

There is no workload for managers if no one submits requests. And the company saves money

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Konras t1_j01mjkr wrote

Read the 2nd part. You think company saves money in the long run with increased turnover that is caused in part by stupid practices like this?

0

TeaKingMac t1_j01pzsu wrote

Companies don't care about long run, only current quarter.

Also, who's leaving a FAANG because they can't get free rides to work?

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Konras t1_j01rvxv wrote

Let's see. Stocks are falling -60%. A lot of stuff is fired. Projects are being cancelled. Now they take your $200 ride home allowance away.

Even if your love FAANG, switching from F to another letter would be a not so stupid idea now.

1

TeaKingMac t1_j01wg66 wrote

Yeah sure, but the 200$/month bus fare is pennies compared to the thousands of dollars you're losing in declining stock.

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Konras t1_j0216p0 wrote

Above you said that company makes it complicated to use this benefit to save money. But at the same time this allowance is nothing compared to stock they grant.

I think we can agree that compensation and benefits specialists at Meta are not exactly on top of their game.

When you remove a benefit people will be annoyed about it. When its nothing compared to what you pay to those people, why even bother?

1

guesswho135 t1_j01f79q wrote

"up to an estimated $180 million"

But in actuality about $15 plus tip

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NotAHost t1_j009y1r wrote

They estimated. Might not be a great estimate but it’s an estimate.

1

lodger238 t1_j027sxm wrote

You're right. I guess you could say that was their "exposure" but not their expense.

1

SmplTon t1_izzr0p4 wrote

I mean, that’s cool, they can just ride their headsets to work

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ProbablyDoesntLikeU t1_izzw8w3 wrote

Surely the company that is geared towards making remote work main stream would encourage their employees to work remotely?

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SmplTon t1_izzy0w5 wrote

For sure, although the whole metaverse concept seems fundamentally flawed. Buying an apparatus to make it seem like you’re in a digital room with other expressionless avatars is inferior to a simple video teleconference, where you can see actual body language.

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bobnoski t1_j01ay88 wrote

And imagine how good the average video call would be if you gave everyone the budget a good VR experience would cost to get a good webcam and headset, or just hand a kit to every new employee.

Then there's the whole issue of mixed meetings that they barely seem to touch on yet. How would five people, together in an office meet with three who work from home? Augmented reality? what if one of them left their headset at home? or if it's empty or broken? is the system smart enough to mute those in physical proximity of each other yet? or would they need noise cancelling earbuds to talk through the app?

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Sharingan_ t1_j017bhr wrote

Crazy how Mark Zuckerburg casually lost them money and they have to cut back on employee perks

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SpecialNose9325 t1_j0184y3 wrote

I have an odd feeling that the Private Jet used by a handful of executives to fly to meetings costs them more than a couple of Lyft rides cost.

The $200-a-month limit makes it sound like its costing them $200 per employee every month regardless of if they use Lyft or not. In reality its probably costing them far less, but it shows up on their balance sheets as potential future spends, so they are getting rid of the possibility of the expense ever occuring.

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Therapist13 t1_j00j8ot wrote

In SF that’s like 4 round trips

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terminalxposure t1_j00nzjd wrote

Perhaps they should all work from home and rent out their facilities?

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captnspock t1_j02693d wrote

Have they tried cutting CEO pay? No? What's that? Mark Zuckerberg really really needs that money and will be homeless without it?

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Steinrikur t1_j05ukh2 wrote

Is he taking a salary? Most CEOs skip that for tax reasons

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Jyith t1_j00jvvq wrote

Mark Zuckerdroid fucks everything up with his idiotic ideas and workers end up paying the cost :)

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xtrsports t1_j01th2x wrote

Jeez that is a rich perk -

1

skb239 t1_j021skq wrote

Puts on Lyft?

1

dankdooker t1_j029w9d wrote

First steps toward the final end. The lights will stay on after the bankruptcy for the auditors.

1

Wrathuk t1_j02s777 wrote

you've got to wonder why all these extremely high paid tech workers need so many perks really.

1

[deleted] t1_j03916y wrote

Put and end to all shareholder theft

1

AzulMage2020 t1_j03h0tu wrote

So should I dump my Lyft shares???

1

kletcherian t1_j06h5dn wrote

They didn't end it. They instead transfer it to metaverse so employees riding Lyft in the virtual world can still enjoy the perk.

1

No-Zookeepergame1241 t1_j01mwgb wrote

Watch this shit domino effect into Lyft being fucked and having to start cutting costs as well. These rich fucks want to keep eating good, but don’t mind if you go hungry tomorrow.

0

QuestionableAI t1_izzl47y wrote

Oh, no, poor f*cking Billionaires tightening everyone else's belt.

What a cheap scroungy fuck.

I am amazed at the number of people here supporting Billionaires ... bots.

−17

TheDeadlySquid t1_izzpjem wrote

This is just the beginning of the end. Worked in dot com during the first wave. It’s all part of the natural cycle.

0