Amidst layoffs, WFH option Meta, Microsoft evacuate offices in US
By MYBRANDBOOK
Meta and Microsoft are vacating office buildings in Seattle and Bellevue in United States' Washington amid mass layoffs and work from home option.
As per reports, Meta is reviewing "leases for Seattle-area office buildings". Facebook has confirmed plans to sublease its offices in downtown Seattle and in the Spring District in Bellevue. Microsoft also confirmed that it won't renew its lease at the 26-story City Center Plaza in Bellevue when that lease ends in June 2024.
A Meta spokesperson said that given the economic climate, it is trying to be financially prudent." The Seattle office market is now struggling "where total office vacancy now stands at around 25 per cent," according to a report by commercial real estate agency Colliers.
Even non-vacant offices are often half empty, owing to remote work. "Given the macroeconomic conditions and the hybrid work trend, we believe we'll see an uptick in office vacancy over the next couple of quarters," Connor McClain, Senior Vice President and leasing expert at Colliers.
The ongoing work-from-home and layoffs have cut into demand for office space in Seattle and other tech cities in the US. In November, Meta announced layoffs of 726 Seattle-area workers.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
ACER INDIA PVT. LTD.
GLOBUS INFOCOM LTD.
VERSA NETWORKS INDIA PVT. LTD.
TEJAS NETWORKS INDIA PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SACHIN BANSAL
Sachin Bansal is an Indian entrepreneur. He is best known as the found...
ICONS OF INDIA : VIJAY SHEKHAR SHARMA
Vijay Shekhar Sharma is an Indian technology entrepreneur and multimil...
Icons Of India : NANDAN NILEKANI
Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies...
PARTNER SPEAKERS
PSU
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
