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Given their financial constraints, smaller tech companies may have to choose to invest in physical space or adopt a more flexible strategy. excitement It continued to add offices in Silicon Valley, and video game developers such as Electronic Arts and Epic Games Canada and north carolina. But there are others to reduce.
Zynga vice president of real estate, Ken Stuart, said that Zynga, a gaming company, offered to sublease its 185,000-square-foot San Francisco headquarters last summer as it decided that downsizing and relocating its physical office would make life easier for employees. Its new building in San Mateo, California will be less than half the size.
“The reality is that people are fed up with commuting and getting into the city, and also people think they can do better with hybrids,” Stuart said.
By contrast, the biggest tech giants have “a lot of money that doesn’t matter,” he said. Anne Helen Petersen, co-author of “Out of Office,” a recent book about the remote working era. Ms Petersen suggested that because of their huge budgets, such companies could continue to build offices without worrying about how much money they would lose if the buildings were reinstated.
“They hedge their bets,” said Ms. Petersen. “If the future is to be fully deployed, ‘we’re going to build an apparatus for it.’ If the future is going to be a rubber band for everyone who goes back to the office like it was in 2020, ‘we’re going to get back to that.’”
The two-story WeWork co-working space in Watermark, one of the leading office spaces in Tempe, was bustling this past afternoon. Upstairs, Amazon rented an entire floor.
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