California ExPats Get Pay Cuts

Posted by $ Abaco 1 month, 1 week ago to Economics
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This is a very interesting story this morning. We have seen people flying by here (I'm east of Silicon Valley) on their way out of the state - resettling in Colorado, Nevada, Idaho and Texas. These tend to be sharp, young professionals. Many are about to have families or have small children. The implications of this story are complex and telling, I think. What happens next? I think a lot of these people who just unpacked the moving van just before receiving this pay cut will likely apply their talents locally, starting new businesses - including high-tech businesses. I think this is good for the country and continues California's rejection of good, educated citizens. Almost none remain. The only thing that has kept California from total economic depression has been, IMO, the financial engine of Silicon Valley.
SOURCE URL: https://finance.yahoo.com/news/vmware-twitter-cut-pay-remote-184722278.html


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  • Posted by Idiocracy42 1 month, 1 week ago
    Good for the country, yes; until they bring their failed ideologies with them.

    When I first landed in Texas, I saw a group "Californians for a Better Texas". I don't think they exist any longer, but it was disheartening.
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  • Posted by $ Commander 1 month, 1 week ago
    "VMware’s senior vice president of human resources, Rich Lang, said the company adjusts salary based on the “cost of labor” in different regional zones and benchmarks salary variations among firms competing for its workers. While some employees will see pay cuts, Lang said others could get a raise if they chose to move to a larger or more expensive city."

    If one of my customers, especially that of CAT, GE, Bombardier..etc., told me I had to reduce my "pricing", because I had found a better way to profit from my way of doing business, and meeting their required criteria of performance, I'd have to express they reduce their respective product pricing as well...or go to....
    Wait...I just did that, and found new customers.

    And look at one of the reviews of these labor law interpretations, and who runs the show.
    https://harvardlawreview.org/2018/12/...
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