Meta Reduces NYC Hudson Yards Space in Cost-Cutting Pivot
- Facebook parent declines to renew its lease at two towers
- Company is evaluating real estate plans as it pauses hiring
Hudson Yards in New York.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Facebook parent Meta Platforms Inc. is giving up some offices at Manhattan’s Hudson Yards as the company seeks to slash expenses and cull its workforce.
Meta will return its space at 30 and 55 Hudson Yards to landlord Related Cos., according to people with knowledge of the plans, who asked not to be named because the matter is private. Meta, which leases more than 250,000 square feet (23,000 square meters) across the two towers, has declined the option to renew its lease, which runs through 2024, the people said.