- Facebook has announced a $1000 bonus for its employees for additional assistance like setting up home offices.
- It is not clear if the company’s contractors will get these benefits.
- Facebook also announced that it will give cash grants of $100 million dollars to small businesses.
Facebook has announced that it will grant $1000 bonuses to its employees in the times of coronavirus pandemic, the Information reports. The announcement was made by Facebook CEO Mark Zuckerberg in an internal memo on Tuesday.
This is being done to help out the Facebook employees with additional assistance in the times of the pandemic. These additional expenses would include setting up home offices or helping out its employees with childcare.
The company which has 45,000 employees shall get an exceeds rating in the first six-months review in 2020, The Verge reports. This rating could further lead the employees to benefit bonuses which will help them in the dire times.
As of 2018, the median compensation of a Facebook employee was $228,651 according to a listing in The United States Securities and Exchange Commission.
Facebook advised its employees to work from home from March 5 after one of its contractors contracted COVID-19 in its Seattle office. The company, however, has not made it mandatory for the employees to stay put.
According to CNN Business, the $1000 bonus will only be made available to the full-time employees and not the contractors. It is, however, not clear, if the contractors are benefitting from the bonus or not.
On Tuesday, Facebook, in its official blogpost, also announced that it will give cash grants of $100 million dollars to small businesses. The tech giant also offered ad credits to these companies.
We know that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. We've heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time, the blog post read.
With the coronavirus scare spreading faster than ever, tech companies all over the world are resorting to work from home policy. Last week, Twitter made it mandatory for all of its employees to work from home.
Zuckerberg had earlier announced that he was joining Bill Gates to contribute private funds for coronavirus testing in the San Francisco Bay area. His philanthropic groups have invested in machines that have been approved for testing diseases like COVID-19.