Yelp employees may work remotely forever

Firm will reduce footprint in another ominous sign for office landlords

National /
Feb.February 19, 2021 12:50 PM
Yelp is expected to sublease some of their current offices. (Yelp, Getty)

Yelp is expected to sublease some of their current offices. (Yelp, Getty)

 

It’s enough to make office landlords, well, yelp.

Like other tech companies, Yelp is moving to a hybrid office model.

In a blog post Friday, Yelp’s chief people officer, Carolyn Patterson, announced it will transition to allowing employees to work remotely either full-time or part-time.

Though Yelp will maintain its presence in places where it has offices, including its San Francisco base, it will shed and sublease some space.

“While we plan to maintain offices in our current locations, with fewer employees coming to the office each day, our real estate needs have changed,” Patterson wrote. “We plan to reduce our real estate footprint as leases come up for renewal, and by subleasing some office space.”

The space that Yelp will keep will be made into a “flexible in-person office environment that invites collaboration, creativity, coffee chats and hallway conversations.”

Other tech firms to announce similar policies include Dropbox, Microsoft, Twitter, Facebook and Zillow.

The Real Deal reported last month that Yelp has quietly let brokers know that its spaces at SL Green Realty’s 11 Madison Avenue and at 200 Fifth Avenue are available for sublease. It is expected to sublease one and consolidate its New York operations at the other.

Accounting giant PricewaterhouseCoopers was pursuing a similar plan, the report said.





    Related Articles

    arrow_forward_ios
    Ascena owns Ann Taylor, Lane Bryant, Lou & Grey and Cacique. (Getty)
    Ascena restructuring approved post-bankruptcy
    Ascena restructuring approved post-bankruptcy
    Apollo Global Management will take over craft retailer Michaels in a deal that values the company at $3.3 billion. (Wikipedia Commons, iStock)
    Craft retailer Michaels to go private in $5B deal
    Craft retailer Michaels to go private in $5B deal
     JLL CEO of capital markets Richard Bloxam and Roofstock CEO Gary Beasley (JLL, Roofstock, iStock)
    JLL gets in rental home business
    JLL gets in rental home business
    Mack-Cali Realty CEO Mahbod Nia and MaryAnne Gilmartin (Photos via Mack-Cali Realty)
    Mack-Cali Realty names Mahbod Nia as CEO
    Mack-Cali Realty names Mahbod Nia as CEO
    Gov. Andrew Cuomo's emergency powers are about to go up in smoke (Getty, iStock)
    Cuomo to lose shutdown power, but could still extend Covid restrictions
    Cuomo to lose shutdown power, but could still extend Covid restrictions
    The comedy club argues that if SNL can operate, then they should be allowed to operate too. (Getty)
    Manhattan comedy club sues Cuomo over pandemic closures
    Manhattan comedy club sues Cuomo over pandemic closures
    (iStock)
    These were Manhattan’s best office submarkets in Q4
    These were Manhattan’s best office submarkets in Q4
    (iStock/Illustration by Alexis Manrodt for The Real Deal)
    Order up: Real estate investors line up to buy drive-throughs
    Order up: Real estate investors line up to buy drive-throughs
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...