Edited By: Shaurya Sharma
Last Updated: March 01, 2023, 10:59 AM IST
What’s next in store for Musk-driven Twitter?
it has been reported that Twitter’s New York offices are being downsized as part of Musk’s leadership. Twitter is reportedly subleasing 2,00,000 square feet of office space in Manhattan, according to Bloomberg.
Since Elon Musk took control of Twitter in November of last year, the company has experienced a series of transformations—some minor, others more significant—including his appointment as CEO and the termination of numerous employees.
Musk has also been known to demand high levels of performance from his team, expecting them to work long hours and tackle challenging tasks. Most recently, he eliminated roughly 10% of the remaining workforce—leading to the loss of around 200 jobs. Now, in addition to these changes, it has been reported that the company’s New York offices are also being downsized as part of Musk’s leadership.
Twitter is reportedly subleasing 2,00,000 square feet of office space in Manhattan, according to Bloomberg. Simply put, this means that Twitter will be renting the space out to someone else while still retaining some rights to the property.
“Twitter recently listed nearly 200,000 square feet (19,000 square meters) of space for sublease at 245 and 249 W. 17th St. in Manhattan, according to data from real estate brokerage Savills,” Bloomberg’s report said.
This move follows Twitter’s previous struggles with paying rent for their San Francisco and London offices, which led to lawsuits against the company.
According to Bloomberg, Facebook’s parent company Meta also abandoned “some offices at Manhattan’s Hudson Yards” last year, and Amazon scaled back its expansion plans in the city.
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