Facebook employees could receive pay cuts as they continue to work from home
Facebook employees, who will continue to work from home for an expected five to ten years, will receive cuts if they move to less expensive areas.
Facebook CEO Mark Zuckerberg recently announced the company will allow most of its employees to request a permanent change in their jobs to let them work remotely. The catch? Facebook will localize employees' compensation based on where each employee chooses to live. Zuckerberg confirmed the salary fluctuations—in most cases, expected reductions—via Facebook Live.
In a recent Facebook employee survey, 40% of them said they would permanently change to full-time remote work. Over 75% of these employees said they might move to another place, according to Zuckerberg.
The company is "aggressively" opening remote hiring and expects to shift 50% of its workforce to remote work.
"I think we're going to be the most forward-leaning company on remote work at our scale," Zuckerberg said. "Over the next 5-10 years, about 50% of our people could working remotely ... that's not a target or goal."
Facebook employees have until Jan. 1, 2021 to notify the company if they moved to a different location.
Facebook announced earlier this month that it doesn't expect to open most of its offices until July 6, at the earliest.
"With social distancing, we expect to only be able to fit 25% of employees back in the office for much of the rest of this year," Zuckerberg said in a Facebook post.
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