FACEBOOK IS GIVING $1,000 TO ALL OF ITS 45,000 EMPLOYEES
Facebook is giving each of its employees a $1,000 bonus to help support them during the coronavirus outbreak. The bonus is meant to help employees who are working remotely with additional expenses, such as setting up home offices or spending on childcare, the company told CNN Business.
The news was first reported by The Information, citing an internal memo sent by Facebook CEO Mark Zuckerberg on Tuesday. Facebook has around 45,000 employees worldwide. The $1,000 bonus will only be avail2able to full-time employees and not contractors, according to a source familiar with the matter. The company said earlier this month that it would continue to pay hourly workers, such as janitors and cafeteria workers, their regular wages despite reduced working hours.
Facebook’s median annual salary in 2018 was $228,651, according to a filing with the Securities and Exchange Commission. Big Tech companies have implemented remote working orders to varying degrees as the coronavirus continues to spread. Last week, Twitter (TWTR) made working from home mandatory for its entire global workforce, while Google (GOOGL) asked employees in North America, Europe, Africa and the Middle East to work remotely. Facebook (FB) and Amazon (AMZN) have not made working from home mandatory but are encouraging employees to do so if their jobs allow it.
Aside from the bonus to its employees, Facebook COO Sheryl Sandberg said the company will spend an additional $100 million to support small businesses across 30 countries who have been impacted by the coronavirus. Businesses can apply to receive some portion of that money through cash grants or ad credits, the company said.