On Tuesday, Facebook announced to give bonuses of one thousand dollars to each of its employees to back those workers who are working remotely, as they wait out the COVID-19 outbreak. At first, Information reported that the social media giant would offer bonuses to workforces. The CEO of Facebook, Mark Zuckerberg, made the announcement in an inner note to its employees.
Small businesses are the heartbeat of our communities. To help during this time of crisis, Facebook is offering $100M in cash grants & ad credits for up to 30k small businesses in over 30 countries where we operate. A note from our COO Sheryl Sandberg: https://t.co/fUVJkVUbZo
— Facebook (@Facebook) March 17, 2020
According to the financial filing of January, around forty-five thousand full-time employees are working on Facebook. Moreover, the tech company also employs thousands of additional contract staff members. However, it is not clear either those contract workers will take the benefit of the announcement or not.
Facebook is not only a technology firm that is giving cash bonuses to its employees. Many other companies also made the same announcement likewise Workday announced on Monday to give cash bonuses having worth of wages of fourteen days to its workers.
$100 million Program of Facebook
On Tuesday, Facebook announced to launch a $100 million program to back small businesses disturbed due to novel coronavirus. The package will provide over the thirty-thousand appropriate small business with ad credits and cash donations to assist during this difficult time. The epidemic already had a huge impact on Facebook. The company’s shares are down over twenty-eight percent year-to-date as coronavirus fears grew all over the world in all business and careers.
On 27th February, Facebook announced to cancel its F8 yearly software developers conference. Furthermore, Facebook asked its employees to start work remotely from their homes at the start of March, and it pulled out many other conferences. If we punt an eye on other constructive moves, Facebook provisionally bans ads on its platform, having items such as medical face masks.
According to Johns Hopkins University, all over the world, there are over 204,069 cases of coronavirus with at least 8,246 deaths. Whereas, in the United States, there are around 6,540 coronavirus cases with at least 116 deaths.