Half of Facebook employees to work remotely in 10 years - Zuckerberg

The entrance sign to Facebook headquarters is seen through two moving buses in Menlo Park California

In an interview with The Verge, Zuckerberg said that Facebook is aiming to be the "most forward-leaning company on remote work" at its scale.

The decision comes just hours after Spotify told its employees they can work remotely through the end of the year.

Zuckerberg shared the video broadcast on Facebook publicly, saying in a post, "This meeting is normally for employees only, but I wanted to share it externally in case our research or approach is helpful to other organizations thinking about what the future of work looks like".

On the same day, two other tech players announced plans to extend their remote work policies.

Over the past few decades, economic growth in the USA has been quite concentrated, with major companies often hiring in a handful of metropolitan areas.

At Facebook, more than 95% of full-time employees have been working from home during the COVID-19 pandemic. He said, "Even if something isn't going to lead to imminent physical harm, we don't want misinformation to be the content that is going viral".

"This is important for taxes and accounting, we're mostly going to rely on the honour code for this and you guys telling us where you're living", Mr Zuckerberg continued.

"That means we have been missing out on a lot of talented people just because they live outside a major hub". About 60% of that total said they'd prefer to move to a smaller city or town. "If you're experienced, if you're at a certain level within the company, if you have good performance ratings, if you're on a team that's going to support remote work, and if you get approval, then you'll be able to know now that you'll be a permanent remote worker".

"With social distancing, we expect to only be able to fit 25 per cent of employees back in the office for much of the rest of this year", said Mr Zuckerberg. We will keep our offices closed until 2021 so that we can rework them for this new reality.

After publishing its most recent earnings at the beginning of May, Shopify became the most valuable public company in Canada.

"Earlier today, we announced the extension of our work-from-home arrangement for all Spotify employees globally". Employees who opt to work remotely must notify Facebook by January 1, 2021, of their WFH locations.

"Our employees' health and safety is our top priority".

He predicted 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.

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