Facebook Inc (NASDAQ:FB) is losing its executives and senior employees at a brisk pace since it launched its May 2012 initial public offering (IPO).
In the past few days, Facebook’s head of the United States sales Tom Arrix and Gowalla co-founder Josh Williams announced to leave the company, reports CNET. Departure of some of the top level executives without any obvious reasons from the biggest social networking site reflects that all is not well in the company.
List of departing employees
Facebook Inc (NASDAQ:FB)’s stock has also been not performing well over the last six months, which is yet another factor for the departures.
Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
Other top level executives who will be leaving Facebook Inc (NASDAQ:FB) is Tim Van Damme, Instagram’ lead designer who will join Dropbox. Adam Gerston was another top level executive to leave Facebook in October. He looked after the preferred marketing developers program. Facebook’s global head of brand design Paul Adams also left Facebook to join Intercom in May. Other executives who left the company are Soleio Cuervo and Rasmus Andersson.
Facebook Inc (NASDAQ:FB) has sure seen some big names leaving, but it still is a powerhouse of talent. Sheryl Sandberg is one of them, though she is selling a lot of stocks of late. Kevin Systrom from Instagram and Sam Lessin founder of Drop are others who are in the company.
Facebook number one company to work with
Executives leaving the social networker comes as a surprise as just a few months back Facebook Inc (NASDAQ:FB) was ranked as the number one tech firm to work with, according to a study and report by Glassdoor. Apart from Facebook, nine tech companies made it to the list of 20 best companies to work with.
According to Glassdoor the rankings were given to the companies based on three million surveys on their website. Other than overall organizational atmosphere, employees also need to discuss their salary, job perks and details about the job application process in the survey.
As per the study, Facebook Inc (NASDAQ:FB) pays good salaries to employees, and they get an opportunity to take part in Foosball, an annual video game day, and Ping Pong. Parents of newly born child receive a onetime gift worth $4000.
One of the Facebook employees said, “The atmosphere is amazing. Everyone pulling together to help the company achieves goals we all believe in, while being incredibly open, down-to-earth and helpful about it.”