Facebook employees to face pay cut if they move to cheaper areas
San Francisco: Facebook CEO Mark Zuckerberg has laid out an in depth remote-working plan to make half of his 50,000-strong workforce work at home by 2030, and staff who transfer to cheaper areas will face pay reduce as salaries are primarily based on value of residing in every location.
In a digital city corridor assembly along with his staff, Zuckerberg mentioned that Facebook staff who select to relocate from the Silicon Valley might even see a change of their salaries.
“That means if you live in a location where the cost of living is dramatically lower, or the cost of labor is lower, then salaries do tend to be somewhat lower in those places,” mentioned Zuckerberg.
Zuckerberg instructed workers on Thursday that they would wish to maneuver again to their properties by January 1, or inform the corporate the place they’re selecting to dwell as a substitute so Facebook can alter salaries, which he mentioned was mandatory for tax and accounting functions, stories NBC News.
“We’ll adjust salary to your location at that point. There’ll be severe ramifications for people who are not honest about this,” he added.
According to him, about half of Facebook staff would work at home 5 to 10 years from now.
“We are going to be the most forward-leaning company on remote work at our scale, with a thoughtful and responsible plan for how to do this. We’re going to do it in a measured way over time,” mentioned Zuckerberg.
As of 2018, the median worker compensation at Facebook was greater than $240,000 a yr.
According to Market Watch, the median residence value in Menlo Park, California, the place Facebook has its headquarters, is $2.four million, whereas the median residence value within the wider Bay Area was $928,000 final yr.
In an inner Facebook survey, about 45 per cent staff have been “pretty confident” that they’d transfer to a different place if that they had that chance, with a further 30 per cent saying they “might” transfer.
Nearly 60 per cent mentioned they’d desire to maneuver to a smaller metropolis or city.
“When you limit hiring to people who either live in a small number of big cities or are willing to move there, that cuts out a lot of people who live in different communities, different backgrounds or may have different perspectives,” mentioned Zuckerberg.
The firm has mentioned staff will have the ability to work at home no less than by the top of the yr.
$(function() { return $("[data-sticky_column]").stick_in_parent({ parent: "[data-sticky_parent]" }); });
reset_scroll = function() { var scroller; scroller = $("body,html"); scroller.stop(true); if ($(window).scrollTop() !== 0) { scroller.animate({ scrollTop: 0 }, "fast"); } return scroller; };
window.scroll_it = function() { var max; max = $(document).height() - $(window).height(); return reset_scroll().animate({ scrollTop: max }, max * 3).delay(100).animate({ scrollTop: 0 }, max * 3); };
window.scroll_it_wobble = function() { var max, third; max = $(document).height() - $(window).height(); third = Math.floor(max / 3); return reset_scroll().animate({ scrollTop: third * 2 }, max * 3).delay(100).animate({ scrollTop: third }, max * 3).delay(100).animate({ scrollTop: max }, max * 3).delay(100).animate({ scrollTop: 0 }, max * 3); };
$(window).on("resize", (function(_this) { return function(e) { return $(document.body).trigger("sticky_kit:recalc"); }; })(this));
}).call(this);
} on_load_google_ad(); function sendAdserverRequest() { try { if (pbjs && pbjs.adserverRequestSent) return; googletag.cmd.push(function() { googletag.pubads().refresh(); }); } catch (e) {
googletag.cmd.push(function() { googletag.pubads().refresh(); }); } } setTimeout(function() { sendAdserverRequest(); }, 5000);
function on_load_fb_twitter_widgets(){ (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.9"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));
window.twttr = (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0], t = window.twttr || {}; if (d.getElementById(id)) return t; js = d.createElement(s); js.id = id; js.src = "https://platform.twitter.com/widgets.js"; fjs.parentNode.insertBefore(js, fjs); t._e = []; t.ready = function(f) {
t._e.push(f); }; return t; }(document, "script", "twitter-wjs")); }
//setTimeout(function() { on_load_google_ad(); }, 5000); setTimeout(function() { on_load_fb_twitter_widgets(); }, 5000);
Source