Tech woes making an impact on corporate real estate

Uncertainty surrounding Twitter is now making an impact on its corporate real estate as tech layoffs continue. 

Several news outlets including TheRealDeal  are reporting that Twitter has  “downsized its headquarters by two-thirds at 1355 Market Street, the San Francisco Business Times reported, citing The New York Times. Twitter jettisoned four floors after missed rent payments as part of a dramatic cost-cutting strategy, unidentified sources said. The New York Times reported Musk consolidated offices onto two floors, after closing four.

The company has laid off thousands of workers, including 800 based in San Francisco, weeks after it was acquired by Musk.”

Also this week, the LA Times reported that Amazon.com Inc. is laying off more than 18,000 employees — a significantly bigger number than previously planned — in the latest sign that a technology slump is deepening.

Salesforce is also eliminating about 10 percent of its staff, according to CNN and others.