
In the latest change in the tech sector, both Facebook parent Meta and Microsoft are vacating their respective office buildings in Seattle and Bellevue inWashington, SeattleTimes reported. Facebook on Friday confirmed that it plans to sublease both its offices, one at the six-story Arbor Block 333 in downtown Seattle, and the other at the 11-storey Block 6 of the Spring District in Bellevue.
The Seattle Timesalso said that this announcement came as the demand for offices in Seattle decreased by the continuous rise of remote work and a tech slowdown that resulted in massivelayoffs. It also said that Redmond-based Microsoft confirmed the reports that it won't renew its lease at the 26-storey City Centre plaza in Bellevue when thatlease ends in 2024.
Watch |World Business Watch: Microsoft and Meta vacating offices in the US
The media outlet also reported that both Microsoft and Meta have embraced remote work while it announced layoffs of over 700 Seattle-area workers.
Tracy Clayton, a Meta spokesperson told Seattle Times that the recent leasing decision has been primarily driven by the company's move towardremote.He also said that "Meta is also trying to be...financially prudent."
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Clayton also said that Meta still occupies around 29 buildings, and almost 8,000 workers in Seattle, being the company's second-largest engineering hub.
While a Microsoft spokesperson said that this decision ischaracterisedby the firm's ongoing evaluation of its "real estate portfolio to ensure we provide an exceptional place to work and create greater collaboration and community for our employees."
The Seattle Times also said that even the non-vacant offices are almost half-empty, owing to remote work.
Since last summer, Seattle hasonly 40 per cent of the workers present before the pandemic.
(With inputs from agencies)
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