An IT company, Stripe Inc., is willing to give its employees a bonus of $20000, but in return is asking them to relocate.
This bonus will be paid to them as a one time bonus, but a reduction in their base salary will also follow.
Read on to find out all the details!
Stripe Inc. To Offer $20,000 Bonus To Employees Opting For Relocating; Whats The Reduction?
Stripe Inc., will reportedly be offering its employees a one-time bonus payment of $20000 if they relocate to San Francisco, New York, or Seattle.
However, the San Francisco based company has also announced a pay cut of 10% in the basic salary.
This offer will also be available to the workers who will opt for relocation before the year ends as revealed by the sources close to the development.
The total headcount at Stripe Inc is around 2800 and the company has always relied on its employees working remotely. Only last year the company formed a remote engineering hub wherein it announced that about 100 new engineers and other staff would be recruited and all these will be working remotely. This was in addition to the hubs that are already in the Bay area, Seattle, Dublin, and Singapore.
Why Is Stripe Inc Pushing For Work From Home?
The company seems to be pushing for employees working remotely, as working remotely has managed to help the company bring the workers closer to the customers and businesses. This in turn helps the company to match the local needs and limitations of customers and businesses by offering them tailor made products. This was confirmed in a blog post by Jay Shirley, the site lead for Stripe’s remote engineering hub.
The company has been valued at $36 billion in its latest funding round and is one of the most valuable closely held startups.
Software company VMware is another company that has now announced that it will be reducing the salaries of employees who have decided to work from home permanently and relocated to cities that are easy on the pocket. The reduction in their pay can be as much as 18%.
We’ll keep you informed as we get any more details.
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