- Facebook will have half of its employees work from home permanently by the end of 2030.
- Zuckerberg has set the deadline as January 1 for employees to decide their locations of work.
- The employees moving out to cheaper locations are likely to face pay cuts.
Facebook is looking to make half of its employees work from home permanently for the next 5-10 years. Facebook CEO Mark Zuckerberg, in a public live stream, said that the company was aggressively opening up remote hiring in response to the Covid-19 lockdown response.
"It doesn't make sense for us to retrain our hiring to near offices most of us aren't going to be able to go into," Zuckerberg said.
"Certainly being able to recruit more broadly, especially across the U.S. and Canada to start, is going to open up a lot of new talent that previously wouldn't have considered moving to a big city."
Facebook has around 45,000 employees worldwide and by the end of 2030, most of them will be working from home.
"We need to do this in a way that's thoughtful and responsible, so we're going to do this in a measured way. But I think that it's possible that over the next five to 10 years may be closer to 10 than five, but somewhere in that range I think we could get to about half of the company working remotely permanently," Zuckerberg told The Verge.
This will also apply to people living in areas a few hours away from their offices.
However, these employees working from home will also face pay cuts in case they move out from Silicon valley to cheaper areas.
"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," said Zuckerberg. "We pay very well, basically at the top of the market, but we pay a market rate. And that varies by location, so we're going to continue that principle here."
Zuckerberg has set the deadline as January 1 for staff to decide the locations where they would like to work.
After this announcement, Facebook has become the first company to announce the remote work approach for the long term.
Facebook plans to hire 10,000 engineers and product employees this year.
The company will build new hubs that will not be offices but physical spaces in Atlanta, Dallas, and Denver where remote workers can meet.
Earlier this week, Facebook also chalked out plans for employees returning to the office. Facebook has limited to initially get 25 per cent employees to office. It will also put people on multiple shifts and require temperature checks. Facebook is slated to reopen office spaces on July 6.