Tech

Facebook to give $1,000 bonuses to each of its employees to deal with coronavirus fallout

Key Points
  • Facebook on Tuesday told employees that it would give each of them $1,000 bonuses in an effort to support its workforce working remotely as they wait out the coronavirus pandemic.
  • The company employs nearly 45,000 full-time workers, but it also employs several thousands more contract workers.
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Facebook to pay employees $1,000 bonuses to assist during coronavirus outbreak

Facebook on Tuesday told employees that it would give each of them $1,000 bonuses in an effort to support its workforce working remotely as they wait out the coronavirus pandemic, the company told CNBC. 

The Information first reported that Facebook would offer the bonuses to employees.

The announcement was made by CEO Mark Zuckerberg in an internal note to employees.

Facebook employs nearly 45,000 full-time workers, according to a January financial filing, but it also employs several thousands more contract workers. It is unclear if those contractors will also receive a bonus. Facebook isn't the only tech company providing cash bonuses to workers. Workday announced Monday it would pay cash bonuses worth two weeks of pay to its employees.

Facebook on Tuesday also announced a $100 million program to help small businesses impacted by COVID-19. The program will provide up to 30,000 eligible small business with "cash grants and ad credits to help during this challenging time."

The coronavirus has already had a massive impact on the company. Shares of the company are down more than 28% year-to-date as uncertainties around coronavirus drag down the markets.

On Feb. 27, Facebook canceled its F8 annual software developers conference. In early March, Facebook began telling its employees to work from home and pulled out other conferences. Earlier this month, Facebook temporarily ban ads and listings for medical face masks.

Around the world, there are more than 183,000 cases of the coronavirus with at least 7,167, according to Johns Hopkins University. In the U.S., there are at least 4,661 cases, and there have been at least 85 deaths, according to Johnson Hopkins University.

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