Wednesday, January 16News For London

Facebook not fazed by threat of Brexit

Eight hundred new jobs will be created alongside the opening of the new London Facebook office in 2018.

According to the BBC, by the end of next year about 2300 people will work for Facebook from the UK, making this new office the largest engineering hub outside of the United States.

Julian David of techUK, which represents 950 technology firms in the UK, according to the BBC, applauded Facebook for investing in the city of London despite the uncertainties surrounding Brexit.

Several large companies and financial services have said they are either officially leaving the UK because of Brexit or are considering doing so.

According to Verdict, Barclays, Goldman Sachs and Microsoft are among those threatening to leave the UK if it were to leave the EU. These companies will move their headquarters to European cities, like Dublin and Brussels, and some are even venturing overseas.

For example, Barclays has chosen Dublin as its’ post-Brexit European hub and already has 120 employees stationed in the Irish capital. According to Verdict, this number is to rise by at least 100 post-Brexit to protect the bank’s access to the European Union.

As for Facebook, Nicola Mendelsohn, Facebook’s Europe, Middle East and Asia vice-president, said Britain’s “entrepreneurial ecosystem and engineering excellence” makes it an ideal location for technology firms and more specifically, this major social media company.

The new office will be located in the heart of central London near Oxford Circus at Rathbone Place, according to the BBC. This seven-floor building will accommodate engineers and developers along with marketing and sales teams.

According to the BBC, LDN-LAB, a space for start-up companies will also be housed by the building where UK-based start-ups will be invited to take part in three month programmes with “Facebook experts.”

A BBC report stated that through this Facebook initiative, the programmes have been designed to help kickstart local businesses.

(Sub-Tom Geggus)