Elon Musk’s X, formerly known as Twitter, will close its San Francisco office, ending the company’s long-standing presence in the city where it was founded in 2006. The decision comes as part of a broader shift in the company’s operations, with employees set to be relocated to existing offices in San Jose and Palo Alto, reported Bloomberg.
The company’s flagship office, which was relocated to the Mid-Market area in 2012, was closed, according to X CEO Linda Yaccarino in an inner email. Following Musk’s expressed dissatisfaction with San Francisco’s political and cultural culture, he purchased the business in 2022. Under the direction of California’s governor, Gavin Newsom, the company has been outspoken about its frustration with the city and state laws.
Headquarters evacuation
In response to his wider analysis of the city’s progressive environment, Musk had formerly stated that X did move its headquarters to Texas. Next month, the business put 460, 000 square feet of its San Francisco office place up for rent. This renunciation of the area is reinforced by the decision to close the Market Street company.
Effects on San Francisco’s technical scene
The closing marks the end of a major time for San Francisco, where Twitter’s origins began nearly two decades back. Other software companies also benefited from unique tax breaks as a result of the growth that included the Market Street office. Although the area when thrived with technology workers and fresh developments, it has struggled in recent years, exacerbated by the Covid-19 epidemic and a gradual return of office workers. According to CBRE information, San Francisco now has the highest office-vacancy level among key US metro areas, achieving 36 %.
