Meta, Microsoft Vacate Offices in the US

Technology

According to reports, major companies like Facebook parent Meta and Microsoft are vacating their buildings in Seattle and Bellevue, Washington, separately, as the tech sector undergoes “soft market” changes in the office leasing space.

Facebook announced on Friday that it would sublease its downtown Seattle offices in the six-story Arbor Block 333 building. Leases for the company’s other Seattle-area office buildings are also being reviewed by the social media giant.

Microsoft confirmed reports that it will not renew its lease at the 26-story City Center Plaza in Bellevue when that lease expires in June 2024, as reported by The Seattle Times on the same day.

It also stated that the announcements occur at a time when demand for office space has decreased in Seattle and elsewhere due to the continued popularity of remote work and a tech slowdown marked by massive layoffs.

According to Tracy Clayton, a spokesperson for Meta, the leasing decisions were primarily influenced by the company’s shift toward distributed, and remote, work. However, he acknowledged that Meta was also attempting to be financially prudent in light of the current economic climate. Meta announced the layoffs of 726 Seattle-area employees in November 2022.

Sandy

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