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Home News Workforce

Lyft To Cut Back Its Corporate Office Space For Flexible Policies

The ride-sharing company will sublease part of its Nashville, New York City, San Francisco and Seattle corporate offices, making up around 44% of space.

Aayat AlibyAayat Ali
August 24, 2022
in Workforce
Reading Time: 1 min read
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Lyft To Cut Back Its Corporate Office Space For Flexible Policies

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Lyft has announced that it would cut back on its office space as it transitions to a “fully flexible” policy. 

The San Francisco-based ride-sharing company will sublease part of its Nashville, New York City, San Francisco and Seattle corporate offices, making up around 44% of space.  

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“While we continue to believe that in-person connections are important, many of our team members opted to work remotely after we shifted to a flexible workplace strategy,” said a spokeswoman.  

Shedding office space has become a common move for many companies during the post-pandemic era.  

While businesses like Lyft cite the shift to flexible work arrangements as the reason for cutting back their real estate footprint, other factors play a role too.  

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For instance, because of record-high inflation and a looming recession, companies are seeking ways to cut corners and save money. Since occupancy across major offices has remained well-below pre-pandemic levels, shedding unused space can help firms weather an economic storm. 

Source: Bloomberg
Tags: BusinessWorkforce
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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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