Meta and Microsoft are vacating as several employees are opting for work from home. Both companies are facing difficult times amid the global economic shutdown.
Keeping in Short
- Microsoft will not renew its current lease
- The lease ends in June 2024.
- Meta plans to sublease offices in downtown Seattle and Bellevue.
By Crox Media: Meta (Formerly Facebook) and Microsoft are giving their offices in Seattle and Bellevue in Washington, USA. The decision comes after the days when twitter followed a similar move to cut expenses amid uncertain microeconomic situations. According to the article in the Seattle Times, Facebook’s parent Meta plans to sublease offices in downtown Seattle and Bellevue, respectively. The Facebook head office is located in California.
The report further adds Microsoft will not renew its lease on the 26-story city center Plaza in Bellevue. The lease ends in 2024, the main office is located in Redmond, Washington.
The highlight of the report is that Meta and Microsoft are giving up their offices and are preferring remote work options. However, both tech giants are facing quite difficult times. Meta Laid off 11,000 workers in November 2022. Seattle’s office witnessed the exit of 726 employees. On the other Microsoft has not laid off employees, though the company has taken measures to limit costs.
Apart from these two, Twitter is also cutting down its expenses by giving up its office facilities across the globe. The social media company is now allegedly facing legal issues as they fail to pay rent. Twitter is now giving up its offices in Delhi and Mumbai.
Very Interestingly, Elon Musk the owner of Twitter prefers to work from the office. However, in the given situation, his employees are now forced to operate from remote locations. Twitter laid off half its employees between November 2022 and December 2022.