Social Networking Sites Costs UK 6.5 Billion Pounds

Jan 22, 2008

The recent popularity of social networking sites such as Facebook, MySpace, and Bebo are costing UK corporations close to 6.5 billion pounds annually in lost productivity, according to a poll conducted by Information security consultancy Global Secure Systems (GSS) and Infosecurity Europe 2008. The poll was carried out amongst 776 office workers, who admitted to spending at least 30 minutes a day visiting social networking sites while at work. The end result is potentially billions of pounds in lost productivity maintain GSS, plus the extra demand on bandwidth, which is an additional cost to a business in terms of efficiency, maintenance, and resources.