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U.S. Tech Firms Hunt for Cheap Home-Based Hires in Latin America

  • Weaker currencies, similar time zones make region attractive
  • ‘The genie is out of the bottle,’ according to one recruiter
Kimball Thomas in Park City, on Feb. 9.
Kimball Thomas in Park City, on Feb. 9.Photographer: Kim Raff/Bloomberg

The remote-work revolution has led some U.S. technology companies, from startups to Coinbase Inc. and Shopify Inc., to seek new hires in Latin America -- where they can find qualified people in roughly the same time zone who’ll work for much lower pay.

It’s a logical extension of the pandemic work-from-home drift away from hubs like San Francisco and New York to less expensive locations -- including across national borders. And the way currencies have shifted in the pandemic is only reinforcing the trend.