The Covid era seemingly changed the balance of power between employers and employees forever as remote work and telecommuting became the norm.
However, what was once thought to be a worker revolution actually just turned out to be the zenith of a blip in the status quo.
Workplace perks are disappearing and remote working roles are becoming harder to find, according to a new study from Kickresume, an AI-powered career-building tool, keeping employees put longer.
This new workplace trend has been dubbed “The Great Hunkering Down.”
Current job market data shows there are fewer job openings. People are holding onto their jobs for longer, and have less bargaining power. As a result, companies are offering fewer perks, with many workplaces now requiring employees back in the office full-time.
Employers are also cutting back on Summer Fridays.
“People are holding onto their jobs for longer, and have less bargaining power. As a result, companies are offering fewer perks, with many workplaces now requiring employees back in the office full-time,” according to the company.
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Advice for workers in ‘The Great Hunkering Down’
Employees who feel stuck in their current jobs can take a number of steps to correct their course, according to Kickresume.
Those steps include:
- Assessing your life stage
- Evaluating your finances
- Consider health insurance needs
- Think about career goals and look 5-10 years ahead
- Create a personal hierarchy of essentials needed in new role
- Don’t assume you know what you need
- Remember to negotiate
- Review priorities regularly
“In “The Great Hunkering Down,” people might worry that they’re no longer going to be able to get the benefits they’re looking for,” said Kickresume CEO Peter Duris.
There are fewer jobs available, and with lots of competition for available positions, it’s a buyer’s market. While it’s true that remote work is harder to find now, employees can still negotiate for what they want or need to make their jobs work for them.
“If you’re applying for a job and a benefit that’s important to you isn’t mentioned, it’s worth politely bringing it up at the interview stage. Ask if there’s any scope for this perk to be included for the right candidate. Just try not to be too pushy about it as this could put some employers off.”
AI adoption drives May job losses to Covid levels
U.S.-based employers announced more than 97,000 job cuts in May, a 16% increase from the more than 83,000 they cut the month prior and 3% higher than last year’s total, according to the latest data from Challenger, Gray & Christmas viewed by TheStreet.
The May 2026 total was the highest for the month since 2020, when the Covid pandemic forced employers to cut nearly 400,000.
The firm says it has seen “a jump in bankruptcy-related losses, which tells me companies are restructuring aggressively as they reposition for an AI-driven economy,” according to Andy Challenger, labor and workplace expert and Chief Revenue Officer of Challenger, Gray & Christmas.
The tech sector was responsible for more than a third of the job cuts, with companies announcing more than 38,000 job cuts in the month, the highest total since August 2024.
“The labor market is being reshaped by technology in real time. AI is now the leading reason companies give for cutting jobs, and the primary industry citing it is Technology. Technology, already the year’s biggest job cutter, saw its steepest month of cuts since early 2023, even as it remains the sector with the most hiring plans this year,” said Challenger.
“AI isn’t yet the jobpocalypse some predicted. Like spreadsheets and email before it, the technology will ultimately make workers more productive, but our data shows companies are already acting on it, citing AI for more cuts than any other reason. The open question isn’t whether AI changes the workforce, but how fast.”