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Facebook is giving $1k to every employee

theverge.com

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Re: Facebook is giving $1k to every employee

#101

Post by cmiles74 »

samstave wrote: post #92
Hamuko wrote: post #86

Earlier quoted context omitted.

> If you do not do that, you need to cut hours, which reduce your income. Are Facebook employees paid by the hour?

They have a lot of contractors, who are. And there is (used to be) a caste like energy on how contractors were viewed as opposed to actual FTEs.

As far as I can tell, contractors aren't included in this initiative.

Re: Facebook is giving $1k to every employee

#102

Post by tenebrisalietum »

throwaway713 wrote: post #37

I don’t know what the deal is, but I feel like the cynicism on HN has just constantly ramped up over the past couple of years. I actively feel worse after reading the comments on a lot of articles posted on here, and it’s just not an enjoyable experience. There was another article posted recently about a CEO raising the minimum salary of all of his employees to $70,000 and cutting his personal costs to afford it, and…

The number of non-tech articles with social/political slant on HN is increasing.

Re: Facebook is giving $1k to every employee

#103

Post by Infinitesimus »

sys_64738 wrote: post #91
regnerba wrote: post #4

But why? Aren't most of their employees going to still be making their salary anyways? What do they need the extra money for? The people in the economy that really need the money are not the people working at Facebook. I mean, congrats to Facebook employees, I just don't understand why.

If you earn 300k$ a year then $1k is a rounding error to their megabucks employees.

Maybe, but earning $300K a year really tells us little about someone's financial situation. I'm sure you can imagine a world in which many things - eg: Mortgage, medical costs, loan payments, family needs - can make $300K gross income disappear very quickly.

Also remember that that 300k really translates to $130-$180 (guestimate numbers) base and the rest if stock which has also been falling

Re: Facebook is giving $1k to every employee

#104

Post by CydeWeys »

throwaway713 wrote: post #37

I don’t know what the deal is, but I feel like the cynicism on HN has just constantly ramped up over the past couple of years. I actively feel worse after reading the comments on a lot of articles posted on here, and it’s just not an enjoyable experience. There was another article posted recently about a CEO raising the minimum salary of all of his employees to $70,000 and cutting his personal costs to afford it, and…

Seriously, I don't know why people are trying so hard to find the negative here in a thousand bucks bonus to all employees. The top ranked comment in this entire thread is currently "But why? [...] What do they need the extra money for?" Talk about crab mentality. If your employer gives you extra money, you take it! Good on Facebook for redistributing some vanishingly tiny fraction of their cash to their employees in this time of crisis.

Re: Facebook is giving $1k to every employee

#108

Post by nerfhammer »

sys_64738 wrote: post #91
regnerba wrote: post #4

But why? Aren't most of their employees going to still be making their salary anyways? What do they need the extra money for? The people in the economy that really need the money are not the people working at Facebook. I mean, congrats to Facebook employees, I just don't understand why.

If you earn 300k$ a year then $1k is a rounding error to their megabucks employees.

income from RSUs will be down 30%
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