Facebook Expressed Job Growth Concerns In Ireland From Remote Working Trend: Reuters

Facebook Inc's FB company-wide policy allowing permanent remote work from other countries could slow the job growth rate in Ireland, Reuters reports.
Any move to ease remote working abroad will further hamper the multinational firm reliant economy's prospects already challenged by a planned global corporate tax overhaul.
Facebook employs around 3,000 full-time staff and another 3,000 contractors in Ireland.
Facebook will allow some workers to permanently relocate after over a year of remote working due to the pandemic.
It was still working out the eligibility of the Irish-based employees for the remote work policy. Less than half of its staff were Irish nationals.
Facebook planned to move to a new 57,000 square meter campus in Dublin and accommodate 7,000 employees by 2022 or 2023.
Facebook plans to add 700 additional employees in 2021.
However, the remote working evolution could jeopardize the job growth prospects.
Facebook's principal Europe, Middle East, and Africa decision-makers will continue to be based in Dublin, implying fixed corporate tax status. However, the permanent relocators will no longer pay income tax in Ireland.
Foreign direct investment will remain a vital part of Ireland's economic model despite higher worker mobility due to the pandemic, Irish Finance Minister Paschal Donohoe stated.
Price action: FB shares traded lower by 0.68% at $330.21 on the last check Friday.