7 ms·

Getting laid-off if you were a FB employee and a resident would become super-unpleasant. "Got laid off. Now I have to find a new place to live by the end of th

by chiph 9y ago

Getting laid-off if you were a FB employee and a resident would become super-unpleasant. "Got laid off. Now I have to find a new place to live by the end of the week. And explain to them how I am able to pay the higher rent on the new place"

skybrian 9y ago
I'm pretty sure that's not how it works. Despite being located next to Google or Facebook, these will likely be apartments being rented out like anywhere else with no particular employment requirements. Though, they're likely to be attractive to employees who want to live within walking distance.
- Hydraulix989 9y ago
  If that were the case, what would be the incentive for FB to do this then?
  - mikedouglas 9y ago
    There’s a housing crisis and employees are affected. If they want more people to work at Menlo Park, they need to address it.
  - allannienhuis 9y ago
    because "they're likely to be attractive to employees who want to live within walking distance.", which is good for retention and recruitment. Plus, the types of companies we're talking about have wads of cash that they're not returning to shareholders (yet). Real estate investments could provide better returns than a a number of other financial instruments. Win-win. :)
  - skybrian 9y ago
    I don't know about Facebook, but Google is under pressure to reduce traffic from employee commutes. There's a cap on traffic in North Bayshore, and if some employees walk to work, there's less traffic. I imagine Facebook has similar considerations. Housing and traffic are major issues in Silicon Valley.
  - stellar678 9y ago
    Everywhere in the Bay Area has a severe housing shortage. Even with $150k+ salaries, there are very limited housing options available on the peninsula. The Bay Area's land-use policies are directly responsible for the absurdly high housing costs and terrible road congestion. Too many jobs are in office parks, too many houses are in far-flung and low-density areas. If Facebook can build 1000 apartment homes that would allow their employees to walk to work, they stand to benefit in huge ways. If that development can help subsidize 200 apartment homes for people who have been displaced by the skewed housing market, all the better. At least that's how I read their motivations.
- dwighttk 9y ago
  >Facebook employees… receive a five-figure bonus if they live near the office. Sure your rent doesn't actually go up, but you are going to need to get a job that pays pretty well.
  - skybrian 9y ago
    Yes but rent is high anywhere in Silicon Valley. We're talking highly paid software engineers with Facebook on their resume in a place with plentiful jobs within biking distance. These are the last renters you need to worry about.
HillaryBriss 9y ago
yes. it does happen that way sometimes. though not FB, I know someone in California who lives in company-owned housing. the person recently decided to leave the company. sure enough, the company is indeed forcing them to move out too.
- DrScump 9y ago
  I doubt that is legal, as you describe it.

by chiph 9y ago

skybrian 9y ago

I'm pretty sure that's not how it works. Despite being located next to Google or Facebook, these will likely be apartments being rented out like anywhere else with no particular employment requirements. Though, they're likely to be attractive to employees who want to live within walking distance.

Hydraulix989 9y ago
If that were the case, what would be the incentive for FB to do this then?
- mikedouglas 9y ago
  There’s a housing crisis and employees are affected. If they want more people to work at Menlo Park, they need to address it.
- allannienhuis 9y ago
  because "they're likely to be attractive to employees who want to live within walking distance.", which is good for retention and recruitment. Plus, the types of companies we're talking about have wads of cash that they're not returning to shareholders (yet). Real estate investments could provide better returns than a a number of other financial instruments. Win-win. :)
- skybrian 9y ago
  I don't know about Facebook, but Google is under pressure to reduce traffic from employee commutes. There's a cap on traffic in North Bayshore, and if some employees walk to work, there's less traffic. I imagine Facebook has similar considerations. Housing and traffic are major issues in Silicon Valley.
- stellar678 9y ago
  Everywhere in the Bay Area has a severe housing shortage. Even with $150k+ salaries, there are very limited housing options available on the peninsula. The Bay Area's land-use policies are directly responsible for the absurdly high housing costs and terrible road congestion. Too many jobs are in office parks, too many houses are in far-flung and low-density areas. If Facebook can build 1000 apartment homes that would allow their employees to walk to work, they stand to benefit in huge ways. If that development can help subsidize 200 apartment homes for people who have been displaced by the skewed housing market, all the better. At least that's how I read their motivations.
dwighttk 9y ago
>Facebook employees… receive a five-figure bonus if they live near the office. Sure your rent doesn't actually go up, but you are going to need to get a job that pays pretty well.
- skybrian 9y ago
  Yes but rent is high anywhere in Silicon Valley. We're talking highly paid software engineers with Facebook on their resume in a place with plentiful jobs within biking distance. These are the last renters you need to worry about.

HillaryBriss 9y ago

yes. it does happen that way sometimes. though not FB, I know someone in California who lives in company-owned housing. the person recently decided to leave the company. sure enough, the company is indeed forcing them to move out too.

DrScump 9y ago
I doubt that is legal, as you describe it.