Perk-cession

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Perk-cession is the reduction of employee benefits and workplace amenities. Perk-cessions are made to enable a business to focus on efficiency and cost. [1] Perk-cessions are not not well received by employees, negatively impacting company culture. [2] [3]

The term was coined in a 2023 article by the Wall Street Journal as a portmanteau of perk and recession. [4]

References

  1. "Should Workers Be Worried About a Perk-Cession?". www.shrm.org. Retrieved 13 September 2025.
  2. Kidwai, ByAman. "Employee services and perks are seeing cuts at Google, Salesforce, and others". HR Brew. Retrieved 13 September 2025.
  3. "The downsides of cutting employee perks". www.hcamag.com. Retrieved 13 September 2025.
  4. Chaker, Anne Marie (8 March 2023). "The Perk-Cession Is Under Way at Some Companies". Wall Street Journal. Retrieved 13 September 2025.