Recent DevelopmentsMeta, the parent Company of social media giant Facebook and Microsoft vacated their offices in Bellevue and Seattle in Washington of the US this January. Reports have shown that Microsoft has not planned to renew the lease agreement for the office space at Seattle and Facebook on the other hand, is planning to sub- lease both its offices in Bellevue and Seattle to other customers.
Meta and Microsoft Vacates its US Office-Meta and Microsoft Vacates its US Office-Meta and Microsoft Vacates its US Office
The Work From Home Culture and Large Number of LayoffsBoth Facebook and Microsoft vacated their offices amidst the global economy slowing down at a huge rate. The companies have started implementing methods by which they can cut down unreasonable costs in their business. Shifting to a work from home culture is also one among these techniques to cut off costs. Meta has laid off its employees en masse, the figures amounting upto 1,100 layoffs, out of which 726 were laid off from the Seattle office in the month of November 2022.Microsoft has not faced such mass layoffs till now but as a measure to cut off costs, Microsoft vacated its Seattle office. After Microsoft vacated its office, it has been reported that it would be considering City Center Plaza as the new office area, however, a speaker on behalf of Microsoft has said that the decision is yet to be finalized and added, “Real estate portfolio to ensure we provide an exceptional place to work and create greater collaboration and community for our employees.”
Meta and Microsoft Vacates its US Office
Not only have Facebook and Microsoft vacated their expensive office spaces, many large companies are coping with the slow global economy by using this tactic such as Twitter vacating its office space in Delhi and Mumbai.Do visit our website for such more news, facts, article where we share The True Stories of The World, The TopStoriesWorld.Com