Meta to downsize Bay Area offices to adjust to hybrid work

“We’re creating a smaller venue, and for the same amount of folks, but it’s a smaller venue and we’re hoping that really drives a life in the building: more energy, more activity,” Tenanes told the Wall Street Journal. 

That includes potentially letting some office space leases expire, consolidating offices across multiple buildings and evaluating offices that haven’t been moved into yet. 

It’s too early to tell how these changes will impact the company’s offices and employees in the Bay Area, Meta spokesperson Tessa Giammona told SFGATE. 

“Our aim is to build a best-in-class remote work experience to help everyone do the best work of their careers no matter where they are. We remain firmly committed to the San Francisco Bay Area as evidenced by the thousands of Meta employees who live and work here,” Giammona said. 

According to an analysis by the San Francisco Business Times, Meta currently owns or leases about 10 million square feet of office space in or near its Menlo Park headquarters. This includes the 1.6 million-square-foot Willow Village, a mixed-use project the company has planned to turn into something of a Facebook hamlet complete with apartments, cafes and markets, as well as a 193-room hotel and a “town square.” It’s unclear whether Meta’s plans for Willow Village will be impacted by this shift in the company’s real estate footprint. 

This is the latest segment in what seems to be a rough chapter for the company. Last week, Meta co-founder and CEO Mark Zuckerburg announced a hiring freeze, as well as plans to reduce budgets across most teams. 

Of Meta’s roughly 120,000 employees, 28,615 live in the Bay Area, according to LinkedIn.

Article source: https://www.sfgate.com/bayarea/article/facebook-meta-reduces-office-space-17489723.php

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