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Meta Spends $181 Million to Break London Lease
Meta has paid dearly to get out of a lease for London offices, spending roughly $181 million to exit the 20-year agreement.
According to The Register, Meta leased the office pre-COVID. Since the pandemic, however, the offices have remained empty as employees worked from home. The termination fee is roughly equivalent to seven years of rent at the location.
Despite taking such drastic action, Meta told The Register it remains committed to its London presence.
“The past few years have brought new possibilities around the role of the office, and we are prioritising making focused, balanced investments to support out most strategic long-term priorities and lead the way in creating the workplace of the future,” the company said.
“We remain fully committed to London, as evident by the recent opening of our King’s Cross office further anchoring our local footprint.”
Meta Spends $181 Million to Break London Lease
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