FAST FIVE: $650 Billion Facebook To Cut Pay Of Remote Workers Moving To Lower Cost-Of-Living Areas
$650 Billion Facebook To Cut Pay Of Remote Workers Moving To Lower Cost-Of-Living Areas Tyler Durden Fri, 05/22/2020 – 19:25 Want to work at home.
The company could be cutting pay – or “adjusting compensations” as CNBC so lovingly put it – based on the cost of living of where people will be working from. “We'll adjust salary to your location at that point.
There'll be severe ramifications for people who are not honest about this,” Zuckerberg said, hilariously saying that the adjustments were necessary for “taxes and accounting”. The company said it aims to “aggressively” ramp up its hiring of remote workers and that they will take a measured approach to opening up permanent remote work positions for existing employees.
A survey the company did found that 50% of employees said they were as productive at home as they were in the office.
75% of employees said they would potentially move to a different city if they were able to work from home. The company will start by allowing existing employees to request permanent remote work if their job qualifies.