Meta Platforms (META) to Reduce Office Space to Adapt to Hybrid Work Model – WSJ
By Sam Boughedda
The Wall Street Journal said on Tuesday that Meta Platforms (NASDAQ:) is preparing to shrink some of its offices, with many of its employees continuing to work from home.
The Facebook parent company is said to be reassessing its real estate with the hybrid work model rising to prominence following the Covid pandemic.
The WSJ said Meta’s vice president of global facilities and real estate, John Tenanes, stated in an interview that the company would rearrange some office layouts bunching some desks and teams together to put employees closer.
“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 was quoted by the WSJ as saying in the interview.
However, he pointed out that it was too early to state how much Meta’s overall real estate footprint could change. He also didn’t comment on any specific sites but added that the company is continuing to open offices in some locations.
Tenanes reportedly explained that Meta could let some existing office leases expire or integrate floors across multiple buildings into one, while it is also assessing whether it should keep hold of buildings it never moved into.
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