California: Hinting at vast change in tech world, Facebook’s parent Meta and Microsoft are vacating office buildings in Seattle and Bellevue in Washington.
The Seattle Times further reported that Facebook on Friday confirmed its plan to sublease its offices Arbor Block 333 in Seattle, and another office at Block 6 of the Spring District Bellevue.
The California-based social media company is also reviewing leases for other Seattle-area office buildings.
Microsoft reportedly will not renew its lease of the 26-story City Center Plaza in Bellevue as it ends in June 2024.
The announcements by tech giants comes in the midst of popularity of remote work and a tech slowdown with massive layoffs, according to the Seattle Times.
Both Meta and Microsoft allowed remote work while cutting down workforces as the tech sector slows down with Meta laying off 726 Seattle-area workers in November.
Meta spokesperson Tracy Clayton linked the new decisions to the company's move toward remote, or "distributed," work and added that ," Meta was also "trying to be ... financially prudent".
Meta currently occupies all of Arbor Block 333 in Seattle and had plans to take over Block 6 later this year.
Seattle area continues to be Meta’s second largest engineering hub, outside headquarters in Menlo Park, still retaining offices in 29 buildings with nearly 8,000 workers.