Twitter, Facebook and VMWare cut wages
Bloomberg reports that Twitter and VMWare are cutting wages for workers that are leaving the San Francisco area to work remotely from cheaper areas.
WMWare has given workers the option to work remotely permanently but only if they take an 18% cut in salary.
The report says Twitter and Facebook have set up or are looking at similar policies.
If there is a long-term trend towards work-from-home, that’s also a trend towards lower salaries in what might be a significant headwind to inflation.
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