Since the founding of Twitter in 2006, the company’s headquarters have been located in San Francisco, but its current owner, Elon Musk, more than a year and a half after the acquisition, decided to close the head office of the social network, which he renamed X. The headquarters is being laid off. -Apartments will be offered in new locations in San Jose and Palo Alto.
Image Source: Elon Musk, X
Information about the upcoming changes, as reported by Bloomberg, was disseminated in a letter to employees by X CEO Linda Yaccarino. The New York Times was the first to report X’s plans to close its historic San Francisco headquarters. The owner of X, Elon Musk, has been accumulating contradictions with the municipal authorities of San Francisco since the purchase of the company in October 2022. In general, he is committed to basing his companies’ headquarters in Texas, and previously moved Tesla’s headquarters from California.
Musk made promises to move his headquarters from San Francisco to Texas last month, while vacant office space in the city was put up for lease. As Bloomberg notes, Twitter has occupied a specific office in San Francisco since 2012; its appearance was an impetus for the growth of business activity in the area and stimulated the development of the real estate market. The decline in tenant activity caused by the pandemic is still observed in this part of the city. According to current data, up to 36% of office space here is empty. Municipal authorities have made no secret of the fact that they are aware of Musk’s plans to move X’s headquarters out of the city. In fact, only 120 of the company’s employees will be forced to move from San Francisco; the office has been practically empty for a long time.