Uber is looking to trim down its lower Manhattan office space by more than a quarter.
The ride-hailing company is offering about 80,000 square feet of its 308,000-square-foot office at 3 World Trade Center, Business Insider reported, citing anonymous sources.
Uber signed the lease for the space at Silverstein Properties’ skyscraper in October 2019 and is in the process of moving in, the sources told the outlet.
Uber has been shedding employees as well. In May, the company announced its decision to lay off 6,700 people, or roughly a quarter of its workforce. The company reported nearly $1.1 billion loss in the third quarter, according to Business Insider.
“These are really challenging times for companies,” Mark Weiss, an executive vice chairman at Cushman & Wakefield, told Business Insider.
Uber is among many businesses reevaluating their real estate footprint in the pandemic-driven downturn. By the end of the third quarter, sublease supply in Manhattan reached 16.1 million square feet, representing 27 percent of the borough’s total available office space, according to Savills.
[BI] — Akiko Matsuda