Bloomberg Technology
VMware, Twitter Cut Pay for Remote Workers
Sep.11 — VMware Inc. has joined technology companies such as Facebook Inc. and Twitter Inc. in letting some of its office staff choose to permanently work from home in the wake of the coronavirus pandemic. But employees who worked at VMware’s Palo Alto, California, headquarters and go to Denver, for example, must accept an 18% salary reduction, people familiar…
Bloomberg Technology
Brazil Top Court Fines Elon Musk’s X for Skirting Ban
Brazil’s Supreme Court ordered Elon Musk’s X to restore a block on its site in the country or face daily fines after the social media network managed to evade restrictions through a software update. Bloomberg’s Andrew Rosati joins Caroline Hyde and Ed Ludlow on “Bloomberg Technology.” ——– Like this video? Subscribe to Bloomberg Technology on…
Bloomberg Technology
Apple Gets EU Warning on Operating System
Apple has been warned by the European Union to open up its highly guarded iPhone and iPad operating systems to rival technologies or eventually risk significant fines under its flagship digital antitrust rules. Bloomberg’s Gian Volpicelli joins Caroline Hyde and Ed Ludlow on “Bloomberg Technology.” ——– Like this video? Subscribe to Bloomberg Technology on YouTube:…
Bloomberg Technology
Tech Outperforms After Jumbo Fed Rate Cut
Zachary Hill, head of portfolio management at Horizon Investments, joins Caroline Hyde and Ed Ludlow to discuss the impact of the Federal Reserve’s rate cut on tech markets and why the firm still believes in an AI play in the long term. He speaks on “Bloomberg Technology.” ——– Like this video? Subscribe to Bloomberg Technology…
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Brazil Top Court Fines Elon Musk’s X for Skirting Ban
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Somesubhra Lahiri
September 11, 2020 at 8:46 pm
Someone is typing during interview.. Really annoying and unprofessional
air pods
September 11, 2020 at 8:49 pm
its worth it
Lauren Bryan
September 11, 2020 at 9:20 pm
Love you 💋💋😘😘❤️💯
Thriving Anarchy
September 11, 2020 at 9:51 pm
So they essentially take your salary and adjust it to the cost of living for where ever you are going to go. Doesn’t seem too unfair to me tbh. If you take your bay area salary and then move into a cheaper area, then you essentially get a pay raise since the cost of living is much cheaper which means you would be getting a pay raise for essentially moving and not doing anything for the company.
Allen Copeland
September 12, 2020 at 2:49 am
@Thriving Anarchy This goes back to the whole man/woman pay. If it’s cheaper to be a woman, and they paid her less because of it, what kind of storm would that brew? How much your life costs you month to month is *none* of your employers business.
Thriving Anarchy
September 12, 2020 at 3:04 am
@Allen Copeland All this boils down to is whether the company wants to give you a pay raise for you moving away or not. I doubt they do. And the company is offering the choice in the first place. If you don’t like the COL adjusted pay you would get, then don’t take it. If the pay wasn’t COL adjusted, then litterally everyone would take the offer since you essentially get paid more for moving places. I doubt the company wants that.
Allen Copeland
September 12, 2020 at 5:03 am
@Thriving Anarchy You’re missing the point, and it doesn’t seem that your focus is on what makes practical sense. COL adjustment isn’t a ‘pay raise’, you’re not ‘getting more money’, you’re ‘saving money’ that’s the key difference. You don’t magically get more money from that company for moving remote. You get the same money, it’s how far it goes that changes. That’s the difference you’re not seeing. It’s _not_ a raise.
Thriving Anarchy
September 12, 2020 at 5:15 am
@Allen Copeland You still have the same effect. You’re salary goes much further in a low cost area which is why these company’s are COL adjusting your salary if you decide to move somewhere cheaper. They want to give you a choice to move somewhere else, not incentivize you to move somewhere else. Moving somewhere cheaper without having your salary COL adjusted makes it so you essentially get a raise as your current salary is more valuable in the lower COL place. Makes sense to COL adjust your pay since they don’t want to incentivize you to move and part of your salary only exists due to COL in the first place.
chivas roco
September 12, 2020 at 2:07 pm
@Thriving Anarchy dude no matter how many times you say it, it is not a raise. A raise would require an increased monetary compensation for your work. If somebody saves money, no matter how, nobody is giving them extra money, they saved it.
I_M_T_I_A_Z_ S_Y_E_D
September 11, 2020 at 10:58 pm
THEY WILL CUT 30% PAY AND SEE HOW MANY REMAIN STANDING….
Alex
September 11, 2020 at 11:52 pm
I_M_T_I_A_Z_ S_Y_E_D Well Most companies going bankrupt. So there are limited alternatives. But these workers are also saving on the transportation costs.
chivas roco
September 12, 2020 at 1:54 pm
@Alex but you use more electricity if you work from home.
Max Mohr
September 11, 2020 at 10:58 pm
lmao, this is how to lose talent and die as a company. Companies that value their employees don’t pull shit like this and every experienced software engineer is constantly ignoring potential job offers…the companies know this though and they will twist their best people leaving as just not being a good “culture fit” when really they are losing the people who were contributing the most.
That_llama_in_a_tuxedo
September 12, 2020 at 2:34 am
Its not a matter of value of employees but the cost of living making the job attractive. One job with the exact same skills can be paid extremely differently between different states given the demand and the cost of living. A software dev in Texas won’t make as much as on in NYC but he will make more than one based in Nebraska. This is the same thing.
Toktokeh
September 12, 2020 at 7:07 am
You are underestimating how desperate people are for job. Surely what you are saying crossed the mind of their decision makers, yet there is a reason that these companies can get away with this. Besides, not every company needs top talent when average talent can get the job done. Take Twitter for example. From the perspective of the end users, have you seen any innovation on their platform in the past 5+ years? None. It looks exactly the same as it did many years ago. You don’t need top talent for maintenance.
skipmonday
September 11, 2020 at 11:11 pm
Facebook will happily give them a pay raise
P R
September 12, 2020 at 12:06 pm
Nope Facebook is also adjusting pay for those moving to lower COL areas
Stocks for Dividends
September 12, 2020 at 1:37 am
Is anyone surprised, this will happen so company’s can cuts cost. Invest so you don’t live pay check to paycheck. Def don’t agree with their decisions.
Sourav Basu Roy
September 12, 2020 at 7:19 am
i don’t work from home i work from bed
Anindya Sundar Manna
September 12, 2020 at 2:12 pm
Extremely stupid decision. An employes’s pay should be relational to the value generated by the person for the company, not the requirements of the person. Extreme example 1: So suppose the person has multiple dependent wives and few hundred kids. The company is going to pay for that?
Example 2: Bill gate’s daughter (person with insane family income basically) wants to work for them. So by their logic is she going to get nothing for her work because she’s already rich and maybe owns her own island?
ECDCTECH
September 13, 2020 at 3:30 am
Jack Dorsey is such a hypocrite.