Moved During Covid? A Third of Bosses Say They’ll Cut Your Pay
Any savings from relocating to a cheaper place might disappear.
As many as a third of remote workers who move to a cheaper place to live during the pandemic could end up getting a pay cut that offsets any savings, Willis Towers Watson found in a survey released Thursday.
About a quarter of employers said they will reduce pay to reflect lower living costs for relocated workers, and another 9% said they will cut compensation for workers who aren’t in critical roles, according to the survey of executives at 344 North American companies in September and October. The executives, who employ about 5 million workers in industries ranging from manufacturing to retail, also said that they expect more than half of their employees to work from home through at least the first quarter of 2021.