Social media company Facebook unveiled plans to hire an additional 500 people in London on Monday in a move which has viewed as a welcome sign of the continued competitiveness of the British capital following the nation’s surprise vote to leave the European Union (EU) in a referendum earlier in the year.
The San Francisco-headquartered company, which already has around 1,000 people working in its London office is to raise this number by 50% in the next year, according to comments made by Nicola Mendelsohn, vice present of Europe, the Middle East and Africa at Facebook at the Confederation of British Industry’s (CBI) annual conference in London.
In a speech which covered the role of technology in corporate culture, Mendelsohn referred to the UK as “one of the best places” for technology companies to set up. “We have 1,000 people working in our offices in London, but we’re going to continue to invest and we’re going to increase our head count by 50% in the next year, so we will have 1,500 people here in the UK.”
Facebook has more than 12,000 employees globally and generated $17.93 billion in revenue in 2015, of which 95% was generated from advertising.
British Prime Minister Theresa May, who also delivered a speech at the CBI’s conference, welcomed the move, saying that Facebook is “just one example of how businesses are saying ‘actually the UK is a good place to invest and a good place to do business.'”
May also announced commitments to invest an extra 2 billion pounds ($2.48 billion) per year in research and development by 2020 to support making Britain a global hub for scientists, technology investors and innovators.