MarketWatch: Mark Zuckerberg says he expects about half of Facebook Inc.’s employees to work from home five to 10 years from now, but there’s a catch for those expecting to take their fat Silicon Valley salaries and live like kings in a rural area.
As in, a pay cut.
The Facebook FB, +1.52% chief executive laid out the company’s future remote-working plans during a videoconference with employees Thursday. Zuckerberg said Facebook will “aggressively” ramp up the hiring of remote workers, though not all employees would be allowed to permanently work from home, at least at the start.
And those who choose to work where the cost of living is less should expect to be paid less.
“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,” Zuckerberg said.
Facebook already pays based on location, but Zuckerberg said employees working remotely must notify Facebook if they move to a new area before Jan. 1, 2021. read more