Silicon Valley has been under immense scrutiny and pressure to increase the minimum hourly wage bill for staff employed on a contract basis. Facebook Inc (NASDAQ:FB) heeding the call is pressuring its contractors and vendors to implement a minimum wage bill of $15 an hour. It is still unclear as to the number of people and vendors the new pay structure will affect, reports CNBC.
Facebook is not the first company to implement the new structure, McDonald’s Corporation (NYSE:MCD)’s, Gap Inc (NYSE:GPS) and Starbucks Corporation (NASDAQ:SBUX) have already bowed to pressure and implemented increments. The minimum wage increment comes as a morale booster to Facebook Inc (NASDAQ:FB) staff who maintain the grounds, serve food and clean offices at its headquarters.
“[..] You will also have to offer 15 paid days for vacation sick leave and holidays. For those workers who do not receive paid parental leave Facebook is setting a new child benefit of $4000. Facebook Inc (NASDAQ:FB) will pay for the program when vendors increase their rates,” said CNBC’s Kate Rogers
The changes are mostly expected to impact women most of whom make-up the bulk of the minimum wage force in the US. Facebook Inc (NASDAQ:FB) COO, Sheryl Sandberg, who has been championing for women rights at the place of work, affirms that such benefits should translate to a happier and productive workforce
However, a wave of concern still hangs in the air of how the plan will be implemented the giant social network having shared few details on the same. It is still unclear whether Facebook Inc (NASDAQ:FB) will pay the vendors the equivalent so that they can raise the minimum wage or take up 15% of the wage bill. So that the vendors can pass it in the form of salary raise
Microsoft Corporation (NASDAQ:MSFT) just like Facebook Inc (NASDAQ:FB) has mandated its contractors to pay workers when they are off duty for 15 days as Apple Inc. (NASDAQ:AAPL) also absorbs security workers to be part of its staff instead of contracting them.
“There is a lot of pressure in silicon valley right now certainly and in tech for technology companies to share the wealth and not create this blue-collar structure where people are underpaid. […] It is interesting that this is happening on a case by case level with these huge corporations vs. the statewide or nationwide minimum wage push,” said Mr. Jon Fortt of CNBC.
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