In most cases I agree, but in this case it is BS. There is no planet where the cost of labor in Raleigh-Durham is lower than in REMOTE-NC (or REMOTE-WY). Folks in REMOTE-NC didn't get their equity refreshes adjusted down. The people in Raleigh-Durham did. The Raleigh-Durham office pays less than literally every other location in the US.
If that is true, then google will have bet wrong, and will suffer from people quitting who found better opportunities and need to increase pay to entice others.
If people do not quit, then Google’s bet was correct.
It is true. People have been complaining about it for like six months. The rest of the people that have moved outside of the traditional site locations will have their equity refreshes slowly ratcheted down, but only the new Raleigh-Durham site had it brought down instantly.
That said, europeans have been getting an even worse deal on compensation for years and years.
It isn't. It's cost of labor, not cost of living. "How much do we have to pay you to keep you from switching to a plausible competitor."
(Disclosure: I work for Google, speaking only for myself)