Highlights

  • The company is exercising its option to terminate its lease at 225 Park Ave. South in Manhattan
  • Meta also has plans to freeze hiring and restructure some teams to trim expenses

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Meta to shut its New York office due to this reason

The planned closure comes as Meta Chief Executive Officer Mark Zuckerberg seeks to make sweeping changes including reorganizing teams

Days after the announcement of hiring freeze and cost cutting, Meta is now planning to close one of its offices in New York after scaling down its expansion plans in the city.

According to Bloomberg report, the company is exercising its option to terminate its lease at 225 Park Ave. South in Manhattan.

The planned closure comes as Meta Chief Executive Officer Mark Zuckerberg seeks to make sweeping changes including reorganizing teams and reducing headcount at the company for the first time.

Meta will freeze hiring and restructure some teams to trim expenses and realign priorities, Zuckerberg said during a weekly Q&A session with employees.

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