Google employees who work from home could lose money

Re:Google employees who work from home could lose money by shmatt on Tuesday August 10, 2021 @08:58AM (#28128253)

Manhattan leases also famously start at 10 year terms as the shortest.

With all the secrets going around your average FAANG office, no way would any company sublease a partial floor. Maybe an entire floor, but that creates more issues with the complicated separate lobby and elevator systems they previously built

These companies could maybe cut the costs in a few years, maybe in 10-15. Most of these employees working from home probably won't work there by that time

I really doubt we see headlines such as 'Google leaves 2 floors in Chelsea office' anytime soon, with or without workers in office. They'll just keep paying for empty office space. maybe convert empty cubicles into another smoothie or burrito bar

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Re:Google employees who work from home could lose money by JoshTko on Tuesday August 10, 2021 @09:14AM (#28128373)

Companies at Google's scale have a lot more ability to move headcount across geographies so they can work around lease constraints to maximize benefits.

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Re:Google employees who work from home could lose money by sjg007 on Tuesday August 10, 2021 @09:43AM (#28128744)

Google owns the buildings.. they bought them outright.

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Re:Google employees who work from home could lose money by CydeWeys on Tuesday August 10, 2021 @09:51AM (#28128850)

Though a lot of the space inside is still leased out to external tenants, so space used for Google employees does have the opportunity cost that you're not instead earning rent on it.

Google doesn't really want to be a landlord though -- other than the retail first floor of Chelsea Market, I think the long-term goal is to get the rest of the tenants out. The landlording is already contracted out anyway.

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Re:Google employees who work from home could lose money by Spooky23 on Tuesday August 10, 2021 @10:02AM (#28128982)

You can slow down acquisition. I hired about 60 people in the last year, and setup 0 workspaces in my full offices.

Just started procurement activity targeting a buildout to be done Q2/Q3 2022.

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Re:Google employees who work from home could lose money by JumpCrisscross on Tuesday August 10, 2021 @09:14AM (#28128374)

> no way would any company sublease a partial floor

Why not? Turn it into a co-working space. Lease it to a start-up and put up a divider.

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Re:Google employees who work from home could lose money by inetknght on Tuesday August 10, 2021 @09:59AM (#28128928)

If Google can't fill the offices because of work from home then what makes you think a start-up would be able to?

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Re:Google employees who work from home could lose money by vel0city on Tuesday August 10, 2021 @04:01PM (#28133544)

Loads of companies routinely lease partial floors. Its really not that crazy of a concept.

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