What Twitter’s Move to Shutter Offices Signals for Big Tech
More companies are cutting costs by embracing remote setups
Twitter executives can currently travel the world by globe-trotting among the company’s 38 offices, from San Francisco, Sydney, and Seoul to New Delhi, London and Dublin.
But not for much longer. On July 27, the company sent employees a memo saying that one office in San Francisco would be shuttered; plans for a new office in Oakland, California, would be abandoned; and the future of seven locations was being carefully considered as part of a cost-cutting measure. Five other offices globally would definitely be downsized. It’s all part of an attempt to prepare the company for purchase by Elon Musk and tighten expenditure as much as possible.
Twitter isn’t the first to cut down its office space. In early June, Yahoo was rumored to be getting rid of its 650,000 square foot San Jose campus, which was only completed at the end of 2021. Later that month, Yelp announced it was edging closer to being fully remote, and closing 450,000 square feet of office space across the United States. It was followed a week later by Netflix, who said it plans to sublease around 180,000 square feet of property in California as part of a broader company downsizing. That echoed Salesforce, which put up half of its eponymous San Francisco tower block for sublease in mid-July.
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