Meta canceled a 20-year rental property in two years and paid more than 27 billion yen.

Meta had been leasing 1 Triton Square, near Regent's Park in northwest London, on a 20-year contract starting in 2021, but due to staff reductions, it no longer needed such a large office space, so it decided to The contract was canceled at the end of the year. To that end, it is reported that he is paying 149 million pounds (about 27 billion yen), which is equivalent to seven years' worth of rent.

Meta coughs $181M to exit lease on vacant London offices • The Register

British Land Business Update | British Land

In 2021, Meta leased 1 Triton Square, near Regent's Park in north-west London, on a 20-year agreement.


Meta's number of employees was 58,000 as of 2019, but it will increase to more than 87,000 in the third quarter of 2022, so it is natural that they considered an office of 310,000 square meters.

However, shortly after this, CEO Mark Zuckerberg implemented Meta's first layoffs. After laying off 11,000 people, CEO Zuckerberg admitted that he had misread it, saying, ``I thought e-commerce spending would accelerate even after the pandemic ended, but I was wrong.''

by Anthony Quintano

After this, the second and third round of personnel reductions took place, and even though it became compulsory to come to the office three days a week, it did not reach the point where Triton Square was needed, so the contract has been decided to be cancelled. By canceling the 20-year contract in the third year, Meta will pay an amount equivalent to seven years' worth of rent.

Meta said, ``We remain fully committed to London, as evidenced by our recent establishment of an office in King's Cross to strengthen our local foothold.''