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Has Facebook Inc (FB) Taken A Big Step Towards Organized Labor In Silicon Valley?

Facebook Inc (NASDAQ:FB) has started the trend of negotiating contracts with the shuttle drivers in the Silicon Valley and many other tech giants might be pushed in that path in days to come. CNBC’s Josh Lipton reported about the contract between Facebook Inc (NASDAQ:FB) and Shuttle drivers on CNBC.

Facebook, is FB a good stock to buy, Facebook Inc (FB).

“[…] some of the men and women driving those buses aren’t happy with what they are getting paid. Now more than 2/3rd of Facebook’s 90 drivers have reportedly voted to accept the contract negotiated by the Teamsters and San Francisco based Loop transportation,” Lipton reported.

Loop Transportation is the company that employs the drivers and it also holds the contract with Facebook Inc (NASDAQ:FB) for doing the same. A lot of revisions were made to the old contract in order to increase the pay and benefits for these drivers.

Lipton reported that according to this new contract, Drivers hourly was increased to $25 from $18. In addition to this change, full time employees will become eligible for medical insurance and increased vacation days and holidays.

Lipton said that this new negotiation between Facebook Inc (NASDAQ:FB) and Drivers was talked as big step towards organized labors in the Silicon Valley.

Lipton added that there are some reports suggesting that companies like Apple Inc. (NASDAQ:AAPL), Yahoo! Inc. (NASDAQ:YHOO), eBay Inc. (NASDAQ:EBAY) and Zinga will negotiate contracts with drivers in the days to come.

“[…] This news is being talked about as a big step for organized labor in Silicon Valley. The journalists reporting that drivers for Apple, Yahoo, eBay and Zinga are scheduled to vote later this month on representation by the Teamsters,” Lipton reported.

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