Tech companies will now cut pay for workers fleeing Silicon Valley - Business Insider

While employees can work remotely on a permanent basis, they could face an 18% pay cut for moving to a city like Denver, Bloomberg reports.

Even a move within the state of California will result in lower pay: workers who decamp for San Diego or Los Angeles will take an 8% pay cut, Bloomberg reports. The pay localization policy would apply to employees who move outside the Bay Area to less expensive cities, Twitter said. The company's other coronavirus-related benefits, including company-wide "days of rest," a $1,000 work-from-home allowance, parent resources, and wellness programs, apply to all employees, regardless of where they live.

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...companies who don't do this will attract the best talent.

Lower cost of living, Nashville vs San Francisco. Makes sense in a market economy (for now) 😎

We should be getting pay rises not cuts, as they don't need to provide offices.

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