Silicon Valley Companies Are Introducing Pay Cuts For Employees Who Choose To Work Remotely From Smaller Cities And Towns
When tech workers had first realized that remote work was going to be the new normal, the possibilities had seemed endless — it could’ve been possible for someone working in Silicon Valley to move to a hill-station in India, and keep drawing a Silicon Valley salary. But tech companies are quickly making sure that employees who choose to work remotely for long periods will get salaries that are commensurate with the living expenses at their home bases. VMWare, Facebook and Twitter are taking steps to rationalize salaries of employees that move out of Silicon Valley to permanently work remotely. Leaving Silicon Valley for Los Angeles or San Diego would mean relinquishing 8% of their annual pay. Silicon Valley has among the highest rents and cost of living anywhere in the world.