More San Francisco Tech Companies Cancel Leases Due to Remote Work

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More San Francisco Tech Companies Cancel Leases Due to Remote Work

The company announced in February that more than half of its workforce will continue working remotely or on a flexible schedule after the pandemic is over...

The lease termination is just the latest blow to San Francisco's downtown office footprint as more companies shrink or offload leases because of the persistence of remote work. The lease on Yelp's 161,876-square-foot office space at 140 New Montgomery St. is up in October 2021 and the entire space has been listed for rent. WeWork confirmed it would be scaling back its Bay Area locations and is closing five downtown locations. Just this week, the Mission Bay headquarters once leased by Dropbox is being sold for $1.08 billion. The company adopted a remote work policy in October 2020... In August 2020, Pinterest paid $89.5 million to terminate its lease for 88 Bluxome.
 
Matt504

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Surprise, surprise. The writing was on the wall very early into the pandemic once companies realized they could squeeze more productivity out of the workforce by having them work remotely. Parting with the real estate was the logical conclusion
 
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Matt504 said:
Surprise, surprise. The writing was on the wall very early into the pandemic once companies realized they could squeeze more productivity out of the workforce by having them work remotely. Parting with the real estate was the logical conclusion
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I would definitely not say that having people WFH = more productivity, in fact I'd say the exact opposite.

Brick and mortar isn't necessary in many industries. This doesn't surprise me whatsoever.
 
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Matt504 said:
The remote work experiment that upped productivity 13%

New Survey Shows 47% Increase In Productivity: 3 Things You Must Do When Working From Home
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Those all sounds like they depend on a variety of factors and context

Personally, when I WFH (like today, because Denver had a blizzard) I'll check my e-mail once a hour, maybe write a PO or two, maximum. My WFH days are 95% less productive than when I'm in the office. However I work in metal manufacturing which is more hands on, even from my position, then just a desk position.
 
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mr. smoke weed said:
Those all sounds like they depend on a variety of factors and context

Personally, when I WFH (like today, because Denver had a blizzard) I'll check my e-mail once a hour, maybe write a PO or two, maximum. My WFH days are 95% less productive than when I'm in the office. However I work in metal manufacturing which is more hands on, even from my position, then just a desk position.
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The idea here is that even though during normal work hours you might be very liberal with how much work you get done, you're less hesitant to tackle work "after work hours" because you either feel guilty about doing so little during the day or its much more convenient to focus on something that needs to be done after you've had dinner and chilled for the night. Those variable hours of work is where the productivity increases come in at.

I know a couple people who are early risers who knock out the vast majority of their work between 5-10AM, do pretty much nothing the remainder of the day other than meetings and answering some emails and then spend an hour before bed prepping for the next day. That's 5-6 hours of solid focus on work a day, something you don't get in the office.
 
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Hood Critic said:
The idea here is that even though during normal work hours you might be very liberal with how much work you get done, you're less hesitant to tackle work "after work hours" because you either feel guilty about doing so little during the day or its much more convenient to focus on something that needs to be done after you've had dinner and chilled for the night. Those variable hours of work is where the productivity increases come in at.

I know a couple people who are early risers who knock out the vast majority of their work between 5-10AM, do pretty much nothing the remainder of the day other than meetings and answering some emails and then spend an hour before bed prepping for the next day. That's 5-6 hours of solid focus on work a day, something you don't get in the office.
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Yerp, it really depends of the constitution of the person.

I fall into the latter. When I'm at office i start at 545, when I WFH (if there's admin shyt) i start at latest 615am and knock it out ASAP. Then just stay connected for e-mails.
 
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