Facebook Inc. is increasing pay and benefits for contractworkers and vendor employees, joining Silicon Valley companies thatare taking steps to narrow the compensation gap in the region.

The new standards include a minimum wage of $15 an hour and atleast 15 paid days off for holidays, sick time and vacation, ChiefOperating Officer Sheryl Sandberg wrote in a blog post on Tuesday.For workers who don't receive paid parental leave, thesocial-networking company has a $4,000 new-child benefit.California's minimum wage is set to increase by $1 to $10 an hourin January. The national rate is $7.25.

Facebook's changes took effect May 1 for some of its largestsupport teams at its Menlo Park, California, headquarters.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.