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/ Source: CNBC.com

Workplace benefits at Silicon Valley's biggest names including Google and Apple are the stuff of legend. Now tech powerhouse Facebook is entering the minimum wage fight, implementing new standards on benefits for its contractors and vendors.

Vendors or contractors in the U.S. who do a "substantial amount of work" with the social media company will be required to pay their workers at least $15 an hour. Other requirements include offering at least 15 paid days off for vacation, sick pay and holidays.

Additionally, individuals who do not currently receive parental leave will be offered $4,000 in "new child" benefits, according to a blog posted on Facebook by COO Sheryl Sandberg.

While other tech companies have boosted benefits for some security guards and shuttle drivers, Facebook is among the first tech giants to publicly take a stance on the minimum wage. The federal minimum wage stands at $7.25 an hour.

Facebook joins other large corporations that already have raised wages, including Wal-Mart, Gap, McDonald's and T.J. Maxx.

Facebook's new initiative

May 13, 201500:29

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-- Kate Rogers