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Reply to "Facebook announces that remote WFH employees will have salaries decreased to match local COL"
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[quote=Anonymous][b]Employees have until January 2021 to notify Facebook HR/Legal about their new relocation. They will then have their salary adjusted to local COL. Penalty for not doing it - severe. Read: you're fired and we're suing you.[/b] The company, one of Silicon Valley’s biggest employers, is giving U.S. staffers who are approved to work remotely until Jan. 1, 2021 to update the company on where they plan to base themselves, at which point their salaries will be adjusted to reflect the local cost of living. Zuckerberg said he expects half of Facebook’s workforce to take him up on the offer over the next five to 10 years. Employees who attempt to wiggle around those compensation adjustments will be subject to “severe ramifications,” he said, as the company needs to account for employee locations to avoid violating tax laws. https://www.reuters.com/article/us-health-coronavirus-tech/with-remote-work-plan-facebook-dashes-hopes-of-paycheck-arbitrage-idUSKBN22Y1IA[/quote]
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