SAN FRANCISCO (CBS SF) — The community sharing news site Reddit has issued an ultimatum to its employees — live in San Francisco, or lose your job.
According to Venture Beat, Reddit’s executive team announced the news just one day after the San Francisco company closed a major $50 million investment from a handful of influential tech industry entrepreneurs.READ MORE: Family Holds Vigil, Seeks Accountability From Alameda Police Following In-Custody Death Of Mario Gonzalez
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Company CEO Yishan Wong took to Twitter to confirm the new employee policy, which he said was unrelated to the new investment. “Intention is to get whole team under one roof for optimal teamwork. Our goal is to retain 100 percent of the team,” he said.MORE NEWS: UPDATE: No Curfew Enacted After San Leandro Police Receive Threat Of Possible Looting At Bayfair Mall
The company is offering a relocation package for employees who decide to make the move before the end of the year. Those who choose against it will get a severance package.