Facebook to permanently embrace remote work

Facebook Inc will permanently embrace remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg said on Thursday, accelerating the tech sector's geographic diversification away from its home in Silicon Valley.

Freddie Joyner has more.

Facebook CEO Mark Zuckerberg on Thursday said that the social media giant will permanently embrace remote work, even after lockdowns ease.

Zuckerberg said that his company will start "aggressively opening up remote hiring," expecting that about half its workforce would work remotely over the next five to 10 years.

With existing employees, Facebook will take a “more measured approach” and will set a January 1, 2021 deadline for staff to update the company on their new locations based on their job function.

Facebook, which plans to hire 10,000 engineers and product employees this year, will also build three new "hubs" in Atlanta, Dallas and Denver where remote workers in those areas could occasionally meet.

Zuckerberg also predicts some cost savings related to real estate, food and labor costs, as sky-high compensation packages common in Silicon Valley will be adjusted if Facebook employees opt to live in less-pricey regions.

The announcement today by Facebook follows a similar move earlier this month by social media rival Twitter and payments company Square, which were the first major tech companies to permit remote work indefinitely.