Facebook’s adoption of remote working could reshape the Bay Area economy

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In 2018, Facebook signed the largest office lease in the history of San Francisco at Park Tower, a testament to the social media giant’s continued growth, both digital and physical. At the end of last year, the company signed a New York office agreement for twice as much space.

But with offices closed worldwide by the coronavirus, CEO Mark Zuckerberg said Thursday that nearly half of the company’s workers, currently 48,000, could work remotely within 10 years.

The number is not a target, but represents the company’s recognition that the concentration of employees in one large office, such as its headquarters in Menlo Park, may not be possible for a long time. Almost all Facebook employees can work from home until the end of 2020, and the company now allows certain employees to request permission to work remotely indefinitely.

Facebook will also start hiring for remote positions, starting with experienced engineers who live within four hours of an existing Facebook office. The company will create new office centers in Denver, Dallas and Atlanta, where real estate costs are only a fraction of the Bay Area.



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