Half Of Facebook Employees May Work From Home

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Social media giant Facebook will eventually have at least half of its employees working remotely from home on a permanent basis by the end of 2030, Facebook CEO Mark Zuckerberg said.

This will be applicable to existing employees who opt to work from home and have demonstrated good performance and are capable of working remotely.

Zuckerberg said the transition will take place slowly with Facebook expecting only about 25 percent of its existing workforce of near 50,000 to return to their desks by the end of 2020. Facebook is looking to begin to open most of its offices on Monday, July 6.

Reports quoting Zuckerberg said employees choosing to relocate to their homes could see a cut in their salaries as salaries are based on cost of living in each location. In such cases, the employees will have to inform Facebook where they will be living so as to adjust salaries, which is a requisite for tax and accounting purposes.

Facebook CEO also said they expect to see a dramatic increase its remote hiring over time. However, people who are hired for entry level positions may not be initially eligible for this. Facebook will initially focus on focusing on hiring for advanced engineering positions.

The option for remote working will see employees electing to move base to suburb locations. This will enable Facebook to create new hubs in places where they have less or no presence.

Zuckerberg's announcement comes less than two weeks after Twitter and Square CEO Jack Dorsey also said that employees at both of his companies could work remotely forever.

Facebook was among the first tech companies to ask its employees to work from home as the coronavirus outbreak began to spread. The company's employees have been working from home from March.

The Menlo Park, California-based company had said in mid-April that it would require the vast majority of its employees to work from home through at least the end of May.

Revenues of Facebook, the world's most popular social networking site, continue to rise every quarter as companies and other firms keep spending heavily to advertise on the social network. However, Facebook had previously warned that it might not be able to sustain the growth at the same rate in the future.

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