Snap’s latest move is bad news for San Francisco as the company is closing its 33,000-square-foot offices.
Like many companies, Snap is adjusting to post-pandemic norms. The has announced it will shut down its San Francisco office, according to Bloomberg, thanks to an increasing reliance on remote work.
“Our San Francisco location was lightly used by team members following our move to flexible work,” the company told Bloomberg.
Snap had already laid off 20% of its staff as a result of slower-than-anticipated growth and announced plans to restructure in an effort to spur growth and execute its strategic priorities.
While the move is sure to help Snap, it’s bad news for San Francisco at a time when the city is trying to revitalize its office sector and lure companies back.