Facebook will have half of its employees work from home in next 10 years

ST Staff
Friday, 22 May 2020

As the COVID-19 crisis had put global companies into unpredicted situations, Facebook declared that the company is planning to shift 50 per cent of its employees to work from home

As the COVID-19 crisis had put global companies into unpredicted situations and pushed most employees to work remotely, social media giant Facebook declared that the company is planning to shift 50 per cent of its employees to work from home for at least five to ten years.

Mark Zuckerberg, CEO of Facebook has chalked out a detailed plan to make half of his 50,000-employee work from home by 2030 and workforce who move to cheaper areas will face pay cut as earnings are based on the cost of living in each location.

Zuckerberg said that employees at Facebook who choose to move from Silicon Valley may see an alteration in their salaries.

He said, “That means if you live in a location where the cost of living is dramatically lower, or the cost of labour is lower, then salaries do tend to be somewhat lower in those places.”

According to reports in NBC News, the founder informed their staff that they would need to move back to their homes by January 1 or tell the firm where they are choosing to live instead so the company can adjust salaries, which he said was necessary for tax and accounting purposes.

“We’ll adjust salary to your location at that point. There’ll be severe ramifications for people who are not honest about this,” he stated.

“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,” Zuckerberg added.

“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,” he concluded.

About 45 per cent employees were ‘pretty confident’ that they would move to another place if they had a chance, with an extra 30 per cent saying they ‘might move’, according to an internal Facebook survey.

Also, nearly 60 per cent employees said that they’d wish to move to a smaller city. Facebook has said employees would be able to work from home at least over the end of the year.

 

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