AfterDawn: News

Facebook offering employees up to $15,000 to move closer to HQ

Facebook has offered its employees up to $15,000 to move closer to their Silicon Valley headquarters.

To be eligible, "employees must buy or rent a home within 10 miles (16 km) of the Facebook campus at One Hacker Way," the headquarters located about 30 miles south of San Francisco.



There are hopes that programs like Facebook's will spur genrtification of nearby communites such as East Palo Alto, which are currently low-income and cheap compared to the ridiculously priced San Francisco.

"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 added.

Source:
Reuters

Written by: Andre Yoskowitz @ 21 Dec 2015 22:47

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• 4 comments

• hearme0

  First off, having your declared street name as "One Hacker Way" is not flattering. Borderline nefarious IMO.
  
  2nd, 15K to move closer to Silicon Valley HQ???? Moving that close would probably require more of an investment along the lines of 30K to afford that.

  22.12.2015 13:34 #1

• dude845

  Originally posted by hearme0: First off, having your declared street name as "One Hacker Way" is not flattering. Borderline nefarious IMO.
  
  2nd, 15K to move closer to Silicon Valley HQ???? Moving that close would probably require more of an investment along the lines of 30K to afford that. Most of the FB guys live in San Francisco, Los Gatos, etc. which is still in the Silicon Valley, the idea of moving to Palo Alto means they'd be paying less in housing (be it there aren't as many mansions in East Palo Alto) and be closer to work, reducing the morning commute. I'd be against it myself since I like bigger houses/SF is more appealing than a 15K lump sum.
  

  22.12.2015 17:54 #2

• aleesaamber

  Good opportunity for people near the area.

  23.12.2015 22:32 #3

• ChiknLitl

  15K is not going to go far when you have neighborhoods in the area where the average price of a normal, no frills house, is over 1 million dollars. Even in East Palo Alto, where the prices might be lower, you are still looking at over half a million for a fixer-upper! What are you going to do with $15K?
  

  2.1.2016 19:11 #4