Facebook to double office presence in London

[July 23, 2018]  (Reuters) - Facebook said on Monday it would double its presence in London, acquiring nearly 600,000 square feet (56,000 square meters) of office space across two buildings in King's Cross - enough for more than 6,000 workstations.

The social network did not say how many jobs it would add in the British capital, where it expects to employ 2,300 people by the end of this year. It added 800 jobs in London last year.

Steve Hatch, managing director for Northern Europe, said Facebook had developed many of its significant products - including its Workplace collaboration and apps for its Oculus virtual reality headsets - in London.

"Today's news reflects our commitment to the UK and our desire to grow our business and the UK economy," he said in a statement.

The announcement represents a vote of confidence in Britain at a time of uncertainty caused by its expected exit from the European Union next spring. Failure to agree terms could trigger a 'hard Brexit', potentially hitting growth and jobs.

(Reporting by Douglas Busvine; Editing by Maria Sheahan)

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