Stripe, a Silicon Valley startup, allowed employees to leave their local offices in New York City and San Francisco to work remotely in cheaper locations on condition they take a 10 percent pay cut, Bloomberg News reported.
Workers who moved to work remotely in a different location will get a one-time $20,000 bonus, while the pay cut is permanent, Stripe Co-Founder and President John Collison said in an interview with the news site.
“We saw pretty major uptake. There were a lot of people who took advantage of all the remote working that was going on last year to be able to move to be closer to their families, to somewhere they wanted to move previously,” Collision said.
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