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Half of Facebook workforce could remote work permanently, with some facing pay cuts
Yahoo Finance News ^ | 05/23/2020 | Lily Canter

Posted on 05/23/2020 9:46:10 AM PDT by SeekAndFind

Facebook (FB) could have half its workforce permanently working from home in the next decade, Mark Zuckerberg announced this week.

The tech giant’s boss released a public video on Thursday outlining the company's remote working policy for its 45,000 staff.

Zuckerberg said about 50% of employees could be working remotely for good in the next five to 10 years.

But he warned this could mean some workers receive lower salaries related to their cost of living.

Facebook will start “aggressively” opening up hiring for remote workers, Zuckerberg said and establishing new hubs away from Silicon Valley.

“Certainly being able to recruit more broadly, especially across the US and Canada to start, is going to open up a lot of new talent that previously wouldn't have considered moving to a big city,” he said.

The industry, which relies on work completed on computers is in a strong position for remote or home working. But tech companies also have a culture of large work campuses with collaborative spaces and leisure activities.

But now the Facebook chief executive has said some existing employees can apply to work remotely enabling them to live in cheaper cities. They have until 1 January to tell the company where they are living which may result in a pay cut.

Facebook already pays different salaries based on locations.

Engineers with strong performance reviews will be the first group allowed to apply for remote work.

The company will adjust salaries depending on where employees live, meaning those working remotely in places where the cost of living is cheaper will be paid less.

But executive pay is likely to stay high, even for remote positions, to enable Facebook to compete with rivals.

Most employees have already been told to work remotely until the end of the year

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: facebook; internet; remote; workforce
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1 posted on 05/23/2020 9:46:10 AM PDT by SeekAndFind
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To: SeekAndFind

Actually it is surprising the number is only 50%. My guess is that this is actually a conservative estimate.


2 posted on 05/23/2020 9:48:23 AM PDT by MSF BU
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To: SeekAndFind

Trying to tie pay to where people live and work remotely as determined by management.

Challenge accepted.


3 posted on 05/23/2020 9:49:56 AM PDT by 2banana (My common ground with islamic terrorists - they want to die for allah and we want to kill them.)
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To: SeekAndFind

Why cut their pay? It is none of Facebook’s business where the people live as long as they are doing the work. How Commie of Facebook.


4 posted on 05/23/2020 9:49:56 AM PDT by madison10 (Wash your hands & say your prayers cause Jesus & germs are everywhere)
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To: madison10

It’s Facebook’s business, literally.

No one is forced to work there.

If they have to pay more to hold onto talent in the more expensive states that’s their business.


5 posted on 05/23/2020 9:52:42 AM PDT by dp0622 (Radicals N racists dont point ftingers at me I'm a small town white boy Just tryin to make ends meet)
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To: SeekAndFind
My guess is, among other obvious savings, workman's comp savings are pretty substantial.
6 posted on 05/23/2020 9:54:09 AM PDT by riri (If people still dropping, most aint shopping.)
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To: madison10

Why is this being discussed? Is Facebook trying to cut their payroll costs?

I can understand, however, that someone could take a pay cut, in relocating from the expensive Bay Area, and actually have a higher standard of living in Boise or Knoxville.


7 posted on 05/23/2020 9:54:32 AM PDT by Dilbert San Diego
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To: dp0622

I’ve heard for years, just anecdotal evidence but have heard often, that companies in the big cities in California have a hard time recruiting people from other parts of the country, because of the higher cost of housing, and living costs in general.

I’ve heard, again, just anecdotal evidence, that some people don’t want to live in some California cities, even at a higher pay level, due to quality of life as well.


8 posted on 05/23/2020 9:57:31 AM PDT by Dilbert San Diego
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To: SeekAndFind

My agency has always been telework resistant, but now that everybody who has mobile work has been forced to stay home, management is discovering that productivity and teamwork have increased.

And, dare I say it, office drama has decreased. :-)


9 posted on 05/23/2020 9:59:33 AM PDT by Not A Snowbird (I trust President Trump.)
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To: SeekAndFind

And they thought Facebook would pass the savings in transportation and other related costs onto their employees..... Think again.


10 posted on 05/23/2020 10:02:15 AM PDT by SpaceBar
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To: SeekAndFind

it is surprising that FB has stayed in the expensive Palo Alto SillyCon Valley Bay Area this long.
There is almost nothing the company needs there (it has sufficient mass and resources to attract any talent it requires no matter where the firm locates). And since its in the internet business, mobility of operations is a natural for FB.)
What FB should do is keep an office in the SillyCon Valley area and move the larger share of its operations to a far, far more economical place to do its business. There are hundreds of good towns where FB would be very welcome, and in fact they could distribute their operations quite easily too.


11 posted on 05/23/2020 10:02:40 AM PDT by faithhopecharity (Politicians are not born, theyÂ’re excreted. Marcus Tullius Cicero (106 to 43 BCE))
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To: faithhopecharity

Guessing they will be movkng the jobs to India. Time to treat Facebook as a foriegn entity.


12 posted on 05/23/2020 10:03:53 AM PDT by Starcitizen (Communist China needs to be treated like the pariah country it is. Send it back to 1971)
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To: Dilbert San Diego

Hmm. I didn’t know that.

So if they let those people work from home in states that are much cheaper to live in, they would save money on salary.

I wonder if it will ever get to the point that so many jobs in the big cities are work from home that housing prices crash.

Probably not


13 posted on 05/23/2020 10:07:03 AM PDT by dp0622 (Radicals N racists dont point ftingers at me I'm a small town white boy Just tryin to make ends meet)
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To: SeekAndFind

Ruh-roh! I’m betting that Leftists never thought this shutdown would affect THEIR incomes......especially in a Leftist Paradise like FaceBook. Whoopsie!


14 posted on 05/23/2020 10:07:50 AM PDT by originalbuckeye ('In a time of universal deceit, telling the truth is a revolutionary act'- George Orwell..?)
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To: SeekAndFind

This will suck for some employees. Facebook provides its employees with free breakfast and lunch at its offices. The food is freshly prepared and healthy. Employees who now have to buy their own food will probably not make the best choices.


15 posted on 05/23/2020 10:09:32 AM PDT by thefactor (yes, as a matter of fact, i DID only read the excerpt)
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To: Dilbert San Diego
I’ve heard for years, just anecdotal evidence


16 posted on 05/23/2020 10:12:57 AM PDT by Grampa Dave ( The CHICOM/PRCNN, controllers of America's Fake news media, CDCNN, WHO, are the Deep Staters!))
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To: SeekAndFind

I just got thrown off FB and my account suspended. All I asked was why Navajos were experiencing a horrible Covid outbreak what 114 dead while the Cherokees had less than 5 dead.

We have kin in both areas and keep up with the situation.

When I hit the “Enter” button my account was immediately suspended for “violating” their rules. I have no idea what I violated.


17 posted on 05/23/2020 10:16:48 AM PDT by Ruy Dias de Bivar (Thrown off Facebook, account shut. Was it something I said or does the TRUTH bother you?)
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To: SeekAndFind

Why does Facebook have 45,000 employees? Geez


18 posted on 05/23/2020 10:25:27 AM PDT by caver
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To: MSF BU

I’ve been working remotely for 8 years now. When I first inquired about it I was cautioned by my manager that it might mean a cut in pay depending on what the HR policies were.
I eventually moved from Massachusetts to Georgia at the same rate I was making in Massachusetts. No office politics, no disruptions, no commuting. Life is good. And yes I’ve been working through this pandemic as well.


19 posted on 05/23/2020 10:33:52 AM PDT by SubVet72
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To: SeekAndFind

I have a quick question - what useful product does Facebook produce?

And since the answer is none (well I take that back they did make a cutie little picture book for my wife for free ) why are they worth $150 billion?

I mean seriously you have a bunch of kids sitting around on computers doing nothing producing nothing and just trying to interfere with peoples free speech and they get paid 100 grand a year?


20 posted on 05/23/2020 10:36:03 AM PDT by Truthoverpower (And now of course we have the great the wonderfuThe guv mint you get is the Trump winning express !)
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