More San Francisco Tech Companies Cancel Leases Due to Remote Work

[dora_da_destroyer]

Zoning and community involvement in housing decisions in SF means most that empty space can’t become housing, especially companies that canceled leases in commercial buildings that still have other tenants (Twitter) vs abandoning a building they owned or fully occupied (Dropbox)

 

[JetFueledThoughts]

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

They can call it squeezing if they want but as someone who works in tech I’ve loved the change in work the last year. I’m able to move anywhere short term and work from there if I want to, several friends of mine have relocated to Texas, Miami, etc.

My commute wasn’t too bad before but at anyone who used to spend 2+ hours a day commuting to a job in SF, NYC, Chicago etc.

 

[Conan]

i think that these offices just get turned into apartments and housing. they can probably mostly salvage it

That floods the market with excess units (not that I'm complaining, rent is too damn high)

Either way, there will be a hit

 

[ORDER_66]

That floods the market with excess units (not that I'm complaining, rent is too damn high)

Either way, there will be a hit

dont worry they'll always be dumb gullible white out of towners looking to buy or rich asians burying their money in real estate...

 

[Rell Lauren]

Going to be a commercial real estate apocalypse. Also upends the local ecosystem that depends on people going to and from the office.

 

[Rell Lauren]

They can call it squeezing if they want but as someone who works in tech I’ve loved the change in work the last year. I’m able to move anywhere short term and work from there if I want to, several friends of mine have relocated to Texas, Miami, etc.

My commute wasn’t too bad before but at anyone who used to spend 2+ hours a day commuting to a job in SF, NYC, Chicago etc.

I'm 45 minutes from Brooklyn to Midtown on a bad day. When it warms up, I'm going back to the office full-time. I don't know how people enjoy having their work invade the privacy of their home.

 

[JetFueledThoughts]

I'm 45 minutes from Brooklyn to Midtown on a bad day. When it warms up, I'm going back to the office full-time. I don't know how people enjoy having their work invade the privacy of their home.

I’m not the best example of the ‘average’ case because I live alone (no roommates) and have no kids, just a dog. So I have a lot more flexibility in how I utilize my space. My brother has 3 kids and is at home idk how the fukk he does it. I do live in a 1 bedroom condo in a major city so I do feel the limited space sometimes.

I’ll prob go back to the WeWork we have in the region because I would like to have a designated ‘work space’, but I don’t think I need it and I think what we’ll find the end result being is the gain of flexibility; meaning on any given week we might go in the office 4 times, 1 time, or no times. And the company trusts its employees to function the same regardless

 

[GoldenGlove]

I've worked remotely for the last 9 years, going in to the office is ghetto as fukk to me at this point.


I got on one project about a year and a half ago, and they had us coming in Tuesdays through Friday and I was like what fukk


Over time, I stopped coming in on Fridays because the office was a ghost town.

 

[the cac mamba]

That floods the market with excess units (not that I'm complaining, rent is too damn high)

Either way, there will be a hit

how can there be excess units in a place where it costs 3 grand a month for a closet

 

[bnew]

Roughly 4 in 5 Manhattan Office Workers Will Not Return Full-Time, Survey Says


Roughly 4 in 5 Manhattan Office Workers Will Not Return Full-Time, Survey Says

The Partnership for New York City said major Manhattan employers expect less than half of their employees to be back to the office by September
Published March 15, 2021 • Updated 2 hours ago





Vaccines are a critical tool in the push to return of the office. NBC New York’s Adam Kuperstein reports on one office’s welcome back to employees.

Manhattan's largest employers are starting to plan for the post-COVID future of work, and it seems most of them are giving up on the traditional way of doing things.

Just 22 percent of the island's large employers will require all workers to return to the office full-time when they do eventually go back, according to a Partnership for New York City survey.

Some 66 percent said they would adopt a hybrid model of days in the office and days at home, another 9 percent said they would not require workers to return to the office at all, and 4 percent said it would ultimately be role-dependent.



Whatever model they choose, employers don't seem to be in much of a rush either. Survey respondents said they expect just 45 percent of Manhattan's roughly 1 million office workers to be back to the office by this September.

The nonprofit organization conducted its survey in late February and early March. It was the fourth such poll the group has done in the last year.

 

[Rell Lauren]

Roughly 4 in 5 Manhattan Office Workers Will Not Return Full-Time, Survey Says


Roughly 4 in 5 Manhattan Office Workers Will Not Return Full-Time, Survey Says

The Partnership for New York City said major Manhattan employers expect less than half of their employees to be back to the office by September
Published March 15, 2021 • Updated 2 hours ago





Vaccines are a critical tool in the push to return of the office. NBC New York’s Adam Kuperstein reports on one office’s welcome back to employees.

Manhattan's largest employers are starting to plan for the post-COVID future of work, and it seems most of them are giving up on the traditional way of doing things.

Just 22 percent of the island's large employers will require all workers to return to the office full-time when they do eventually go back, according to a Partnership for New York City survey.

Some 66 percent said they would adopt a hybrid model of days in the office and days at home, another 9 percent said they would not require workers to return to the office at all, and 4 percent said it would ultimately be role-dependent.



Whatever model they choose, employers don't seem to be in much of a rush either. Survey respondents said they expect just 45 percent of Manhattan's roughly 1 million office workers to be back to the office by this September.

The nonprofit organization conducted its survey in late February and early March. It was the fourth such poll the group has done in the last year.

It's going to be on firms to force their employees back to work. I had a conversation with a coworker recently and she raised good points. People have been working essentially since last year, but you're "scared" to come to the office yet you've gotten on planes for travel, etc. Offices should be at 50% capacity minimum by the end of '21.

 

[bnew]

It's going to be on firms to force their employees back to work. I had a conversation with a coworker recently and she raised good points. People have been working essentially since last year, but you're "scared" to come to the office yet you've gotten on planes for travel, etc. Offices should be at 50% capacity minimum by the end of '21.

I'm pretty sure the vast majority of people opposed to going back into the office are the not ones travelling, etc.

 

[nyknick]

Wonder if big NYC companies will follow this.

I highly doubt it. It might happen in San Fran because of tech companies but I feel most other companies are just using it as a talking point.

I know few people in sales that received calls to return back to work in April. All of their calls went pretty much like this:


Company: sure we'll look into possibility of having you working from home

Company (2nd conversation): working from home ... we're waiting for the HR department to get back to us on that one

Company (final conversation): you can either come back to the office full time or don't come back at all

 

[Rell Lauren]

I'm pretty sure the vast majority of people opposed to going back into the office are the not ones travelling, etc.

What's the excuse for not going back? People have been outside working for a year. There are treatments. Get your ass back to the office. It's a privilege that's been abused. The sense of entitlement that many have is past ridiculous.

 

[Wild self]

Going to be a commercial real estate apocalypse. Also upends the local ecosystem that depends on people going to and from the office.

Couldnt come soon enough.