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Facebook's 119 London employees pocket £90m in bonuses

by LLB Editor
14th Oct 13 10:39 am

Facebook’s 119-strong London workforce pocketed £90m in bonuses last year, with ex-European chief Joanna Shields making £10m in shares.

The bonus for Facebook employees included 4.1 million shares worth £21.33 each.

Facebook UK made a pre-tax loss of £2.4m on turnover of £34.6m, according to accounts filed at Companies House.

The social media goliath came under fire last week after it was revealed that it paid no corporation tax in the UK last year on estimated sales of £223m. This is because the social media giant processed its UK sales in Ireland.

Margaret Hodge, chairman of the Public Accounts Committee, said: “This is yet another example of what appears to be deliberate manipulation of accounts of economic activity to deprive the British taxpayer of a rightful tax contribution, according to the profits they make in the UK.

“I am getting fed up of this constant stream of stories and little sign of a challenge from HM Revenue & Customs and a strange silence from government.”

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