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Photo illustration: Axios Visuals. Photo: Reddit

Reddit isn't the first big tech company to embrace telework after the pandemic. But the platform stands out from its peers because it says it'll pay workers the same salary — no matter where they live.

Why it matters: The catch in the remote work policies at Facebook, Microsoft and other tech companies has been that although employees can choose to work remotely forever and from anywhere, their pay might be cut if they move out of expensive cities to cheaper ones. Reddit is doing away with that snag.

  • I spoke with Nellie Peshkov, Reddit's chief people officer, about the move.
  • "We realized where our employees are doing work has no impact on their performance," Peshkov says. "We want to pay our employees based on that impact, based on that performance."
  • The majority of Reddit's employees don't want to go back to the office full-time, she tells me.

Between the lines: Reddit's policy will apply to new hires as well as veteran employees. So even if you're joining as a new employee from the middle of the country, you'll get paid a Bay Area salary.

  • "I really believe this is going to allow us to increase the diversity of our workforce," says Peshkov.

Worth noting: Peshkov is Reddit's first-ever chief people officer. She previously led the firm's human resources team at the VP level.

  • The company created the chief people officer role amid the pandemic because "it is so critical and important to the success of the company," she says. "People are our most important resource."

Go deeper: The evolution of HR

Go deeper

Stock market has worst week since October amid Reddit frenzy

Photo: Tiffany Hagler-Geard/Bloomberg via Getty Images

Wall Street had its worst week since October as day traders bid up stocks for GameStop, AMC and others that gained popularity on Reddit.

Details: The S&P 500 fell more than 1.9% on Friday. All of the major averages fell more than 3% this week.

Updated Jan 27, 2021 - Axios Events

Watch: Global data-driven change

On Thursday, January 27, Axios' Ina Fried hosted a conversation on the social impact of Big Data, featuring Rep. Yvette Clarke (D-N.Y.) and former U.S. chief technology officer and founder and CEO of shift7, Megan Smith.

Megan Smith. unpacked how data can help solve some of the biggest equity issues across our economy and society today, and the importance of having everyone at the table.

  • On solving social issues that are exacerbated by new technologies: "It's just not for the tech community to decide [how to fix this] on behalf of all of us, especially because they face extraordinary bias in their hiring practices and their teams' dismissiveness of people who are not of a certain group."
  • On how the government should approach solving problems that cross technological and policy divides: "The key there is less about what and more about who. Who is in the government teams, who is actually in the tech teams? Are they more balanced? How do we get more of society at the table together so that we're more fluent as we work on this?"

Rep. Yvette Clarke highlighted the risks and rewards of using Big Data, as well as the shared responsibility of the public and private sectors to keep the public informed.

  • On how algorithms can amplify existing biases: "[Big Data] can be great in making advances in our civil society. The other side is it can become a mirror of some of the inequities that exist in the real world...and that reflection can be programmed into algorithms."
  • On a balanced approach to technology regulation: "I really want to make sure that the public is educated and informed...[That] we also hold the companies accountable for the ways in which they perpetuate harm in certain respects and reward where they're doing good."

Axios' Chief People Officer Dominique Taylor hosted a View from the Top segment with Intel Executive Vice President and Chief People Officer Sandra Rivera to discuss collaboration and creating change from within the tech industry.

  • "We have convened other industry leaders to really drive meaningful, lasting change forward. This is such a big challenge and opportunity. It doesn't really work that any one company can do [it] alone: We take our role in terms of leading that work by participating, collaborating with other tech giants."

Thank you Intel for sponsoring this event.

Updated Jan 28, 2021 - Economy & Business

Senate panel to hold hearing after high-flying Reddit stocks cause Wall Street chaos

Major trading platforms including Robinhood, TD Ameritrade and Interactive Brokers are restricting — or cutting off entirely — trading on high-flying stocks like GameStop and AMC Entertainment.

The latest: Senate Banking Committee Chair Sherrod Brown (D-Ohio) announced Thursday that he plans to hold a hearing on "the current state of the stock market" in response to this week's volatility.