Meta Platforms backs off NYC office space as it trims costs - Bloomberg
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Meta Platforms (NASDAQ:META) is scaling back ambitious office plans at New York City's Hudson Yards projects, Bloomberg reports, as the company pivots to cost-savings mode amid layoffs.
Meta stock (META) jumped to a session high on the news, and it's up 2.2% on the day.

Meta leases more than 250,000 square feet across two towers there - at 30 and 55 Hudson Yards - but is declining its option to renew the lease, which currently runs through 2024, according to the report.
It will return that space to landlord Related Cos. when the lease terminates.
That's part of a real estate review coming alongside the company's move to cut about 13% of its workforce, announced earlier in November.
Bernstein's new look at technology headcounts suggests Meta has already "bitten the bullet" with its move, but that it's suffered on revenue per employee after hiring up in non-revenue roles.