Market Overview

Facebook To Hire 1,000 Employees To UK Office As It Gets Clarity Over Brexit

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Facebook To Hire 1,000 Employees To UK Office As It Gets Clarity Over Brexit

Facebook Inc. (NASDAQ: FB) is hiring another 1,000 employees in its UK offices, Reuters reported on Monday.

What Happened

The California-based social media behemoth will hire across different departments, such as product management, software engineering, data science, and "community integrity," Facebook's vice-president for Europe, the Middle East, and Africa Nicola Mendelsohn told Reuters.

The role of community integrity would involve identifying and removing harmful content across Facebook and its subsidiaries' platforms.

Facebook is also looking to further develop Workplace, its messaging platform for corporates, which competes with Slack Technologies Inc.'s (NYSE: WORK) namesake platform Slack and Microsoft Corporation's (NASDAQ: MSFT) Teams, CNBC reported.

Facebook's London center is already its largest engineering center outside of the United States, with over 3,000 employees.

The company's expansion plans in the U.K. even as the country prepares to leave the European Union, with doubts over whether the two will manage to strike new trade agreements before the transition period ends at the end of this year.

Boris Johnson, getting elected as the prime minister with an overwhelming majority in the parliament, has eased doubts as Brexit seems certain to happen within the stipulated timeline.

"The Johnson government has been very clear about what that looks like, and so we will continue to invest here in London," Mendelsohn told Reuters.

Price Action

Facebook's shares traded 0.42% lower in Tuesday's pre-market session after closing at $222.14 on Friday.

 

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