Visa Inc. announced Thursday the company is closing its headquarters in San Francisco and moving about 100 employees back to its Foster City campus, effective Oct. 1, according to an article on bizjournals.com.
Business offiicials say the move makes sense for a number of reasons.
The bulk of the company's employees — 3,100 of more than 7,700 worldwide, according to an April list in the San Francisco Business Times -- are already in Foster City.
In addition, Visa recently completed a renovation of its Foster City campus that allows the move to occur.
The executive team, including current Chairman and CEO Joseph Saunders, and members of the legal, finance, strategy and communications teams, will all be part of the move to the Peninsula, according to the article.
Saunders and other executives have had offices in both San Francisco and Foster City, and employees regularly stay at either location, the article stated.
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