Friday 18 December 2015

Facebook to pay workers up to $15,000 to live within 10 miles of office

                               A file photograph showing a view of Facebook's new Corporate Headquarters in Menlo Park, California, USA

Facebook is offering employees at its Silicon Valley headquarters at least $10,000 (£6,700) to move closer to the office, a reflection of the challenges many tech companies face in the increasingly expensive and congested San Francisco Bay area.
To qualify for the payment, which the social networking firm started offering in the last 12 months, according to current and former Facebook workers, employees must buy or rent a home within 10 miles of the Facebook campus at One Hacker Way, a desolate strip of road overlooking a marsh about 30 miles south of San Francisco.
Some Facebook employees with families to support could earn a one-off payment of $15,000 or more for housing costs.
Facebook's efforts could help ease a major source of tension in San Francisco: an influx of young, wealthy tech workers who commute to Silicon Valley on private buses and often displace lower-income residents. But Silicon Valley has a housing affordability crisis of its own, and if Facebook's program gains traction it could further accelerate the gentrification of nearby communities, especially the low-income city of East Palo Alto.
"A lot of local families are going to get hurt," said John Liotti, chief executive officer of East Palo Alto community advocacy group Able Works. Facebook says the program is not about social engineering. "Our benefits at Facebook are designed to support our employees and the people who matter most to them at all stages of life," a Facebook spokesman said.

No comments:

Post a Comment