Work from home is great... until they cut your wages by 18%
Twitter, Facebook and VMWare cut wages
Bloomberg reports that Twitter and VMWare are cutting wages for workers who are leaving the San Francisco area to work remotely from cheaper areas.
WMWare has given workers the option to work remotely permanently but only if they take an 18% cut in salary.
The report says Twitter and Facebook have put in place or are considering similar policies.
If there's a long-term trend towards work-from-home, that's also a trend towards lower salaries in what could be a significant headwind to inflation.