What just happened? Facebook CEO Mark Zuckerberg in an internal memo on Tuesday said his company will be providing each and every employee with a $1,000 cash bonus to help during the coronavirus outbreak.
As The Information highlights, Facebook had nearly 45,000 full-time employees on its payroll at the end of 2019. It is unclear if the bonus will also be extended to the thousands of additional contractors that do work for the company.
Last year, the median income of a Facebook employee was $228,651.
Software vendor Workday this week said it would provide employees below the vice president level with a bonus equivalent to two weeks of pay.
Facebook COO Sheryl Sandberg on Tuesday also announced that the company is investing $100 million to help small businesses impacted by the coronavirus. Eligible businesses will be able to take advantage of cash grants and ad credits to help with rent costs, cover operational costs, keep their workforce going and connect with more customers.
Facebook said it would begin accepting applications in the coming weeks. Interested parties should bookmark the small business grants program website and check back then.
The social media giant has additionally opened up its Business Hub - a resource for Facebook employees and health experts - to all. Here, you'll find tips on how to plan an emergency response and minimize downtime, access business resilience toolkits and more.