Perk-cession
The reduction or elimination of employee perks, like free meals or commuting benefits, as companies cut costs during an economic downturn.
Explanation
Perk-cession combines perk with the recession-suggesting suffix -cession and was used by the Wall Street Journal to describe companies scaling back prized employee extras, free coffee, cab rides, catered meals, as they focus on cost efficiency. The trend became visible from around 2023 as many employers pulled back office perks that had grown during the tight labor market of the pandemic years, partly because remote and hybrid workers were not using in-office amenities like coffee bars and game rooms, and partly because of broader economic pressure to cut costs. The term names a real risk for marketers and HR communicators: employer brand and retention suffer if perk cuts are handled without clear, honest communication about why they are happening.
Usage context / examples
A tech company that eliminates free lunches and reduces its wellness stipend during a cost-cutting quarter is going through what HR commentators call a perk-cession.
Related terms
Employee benefits, employer branding, quiet quitting, layoffs
Turkish definition
Perk-cession, şirketlerin ekonomik daralma dönemlerinde maliyetleri kısmak amacıyla çalışan ayrıcalıklarını (ücretsiz yemek, servis gibi) azaltması veya kaldırmasıdır.