Meta spent $181 million to terminate an unchecked office lease in London

CTOnews.com, September 28 (Xinhua)-- Meta (formerly Facebook) paid $181 million (CTOnews.com Note: currently about 1.323 billion yuan) to terminate an unchecked office lease in London, according to the Financial Times.

Meta has 18 years left on its lease at No. 1 Triton Square, but the company paid the equivalent of seven years' rent in order to terminate the lease early.

In 2021, Meta promised to lease an eight-story building in Regent's Park near the British capital London. However, Meta never really moved into the building. In December, the company said it had "decided to sublet the office in Triton Square".

The move comes after Mark Mark Zuckerberg declared the "year of efficiency", during which the company laid off 21000 employees. Some mixed-work employees are also told to share desks. Last December, Meta moved out of two offices in New York.

Meta has three other offices still open in London, one of which is only 120 yards from Triton Square and has ten floors.

Meta said at the end of 2022 that it was working to "continuously rationalize our office space" as part of cost-cutting measures.