“We’ll adjust salary to your location at that point.” Mark Zuckerberg says employees moving out of Silicon Valley may face pay cuts.
Facebook CEO Mark Zuckerberg on Thursday said he predicts that 50% of the company's employees could be working remotely within the next five to 10 years.
"We'll adjust salary to your location at that point," said Zuckerberg, citing that this is necessary for taxes and accounting. "There'll be severe ramifications for people who are not honest about this." Zuckerberg made his prediction on his weekly live stream with employees, telling them that this decision should help the company improve its employee retention, and it will allow Facebook to hire from talent pools that previously wouldn't consider moving to big cities to work for the company. Additionally, this decision will allow Facebook to improve the diversity of its workforce and spread economic opportunity across more places.
Currently, 95% of Facebook's employees are working remotely, Zuckerberg said. A survey conducted by Facebook found that 50% of employees said they were as productive working from home as they were at the office, Zuckerberg said.
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