Remote workers OK with pay cut
Researchers said remote workers are willing to sacrifice some of their salary because they value the perks of doing their jobs from home. Credit: Getty Images / Westend61
As more companies — and the federal government — order workers to return to the office full time, some remote workers have a message for their bosses: They would take a sizable pay cut to continue their current arrangement.
A study for the National Bureau of Economic Research conducted by researchers from Harvard University, UCLA and Brown University found that the average remote worker is willing to accept as much as a 25% pay cut for a fully remote job. The study focused on technology-industry workers because researchers said the sector had the “highest work-from-home rate.”
Researchers said the main reason workers are willing to sacrifice some of their salary is because they consider working from home to be a valuable fringe benefit and perk.
Big cash for AI startups
AI doesn’t just grab the headlines, it grabs much of the cash too. Financial services company HSBC says private equity firms are financing artificial intelligence startups at an “unprecedented” rate, with nearly half of the $300 billion of venture capital invested last year earmarked for new AI companies. HSBC says investors are competing in a “high-stakes race” to be a part of the “next innovation wave.”
New age for YouTube?
When you sign up for a YouTube account, you must provide your date of birth. But the Google-owned video-sharing platform may no longer take your word. Under pressure after allegations that adult-oriented videos are being accessed by minors, YouTube CEO Neal Mohan says the service will begin using artificial intelligence to “estimate a user’s age” by the videos they typically watch and use the data to enforce “age-appropriate” protections.
Hertz: Full stop on EVs
Hertz said customers didn’t want to rent its fleet of 30,000 electric vehicles and that the cars were expensive to maintain. Credit: Getty Images for Hertz / Rodin Eckenroth
Hertz said it finished selling 30,000 electric vehicles, many of which were Tesla models, as the rental giant moves on from an ill-advised bet on EVs that customers didn’t want and were expensive to maintain. The push into EVs contributed to a loss of $2.9 billion in 2024, Hertz said. CEO Gil West wants to replace the battery-powered models with a fleet of lower-maintenance cars. — BLOOMBERG NEWS
NewsdayTV celebrates Women's History Month From a civil rights pioneer to history being made at the SCPD, NewsdayTV is celebrating Women's History Month with a look at changemakers and trailblazers with ties to LI.
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NewsdayTV celebrates Women's History Month From a civil rights pioneer to history being made at the SCPD, NewsdayTV is celebrating Women's History Month with a look at changemakers and trailblazers with ties to LI.
