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Facebook parent Meta shrinks office space in Hudson Yards amid cost cutting

Facebook parent Meta shrinks office space in Hudson Yards amid cost cutting

Facebook parent Meta Platforms Inc. is reducing its space at Hudson Yards in Manhattan as part of cost-cutting measures in the face of slowing online ad demand. The Menlo Park, California-based company said it has decided not to renew its lease with landlord Related Cos. at 30 and 55 Hudson Yards, Bloomberg News reported. In addition, Meta, which recently instituted a hiring freeze, is subleasing a “small portion” of its office space at 50 Hudson Yards, according to CNBC.