Six companies that own and operate some of the largest networks in the world - Deutsche Telekom, Facebook, Google, Microsoft, Verizon, and Yahoo! - has announced the launch of the Open Networking Foundation. REUTERS/Robert Galbraith

Social network giant, Facebook, has confirmed its plans on Tuesday of moving its headquarters to Sun Microsystems' former campus in Menlo Park, California.

With a current workforce of 2000 employees and a growth-rate of 50 percent per year, company officials feel a strong need to expand and renovate its present work space.

The new campus at Menlo Park can accommodate a total of 3,600 workers. However, Facebook plans to renovate the space to resemble the open-office feel of its current headquarters, the San Fransisco Chronicle reports.

At a press conference, the Wall Street Journal quoted Facebook's CFO David Ebersman saying that We have a very open work environment, so there are no offices. Everybody sits at desks. There are no cubicles or walls-well, there are walls to hold the place up. But as much as possible the spaces are open.

The company also plans to add new stores and facilities to ramp up its new strategy to promote openness and transparency.

The campus already has an amphitheater, a fitness gym, a basketball court, and two cafes, which the company will repurpose and rebuild in the Facebook way, the Financial Times quoted John Tenanes, director of global real estate, stating.

With a further plan to buy the new campus in five years, the company has agreed for a fifteen year lease and will start to move in from June or July.