Amazon is planning to slash its office space footprint over the next three to five years in a way that will save the company $1.3B annually, according to Business Insider, citing an anonymous source and an internal document obtained by the publication.
Amazon’s vacancy rate for its office space is about 33.8%, according to BI. The plan is to decrease that to 10% by the end of five years by letting leases expire and negotiating early lease terminations.
The report doesn’t say how much space would be returned to office markets in which Amazon has a presence, but considering how much space…
Source: Amazon Plans To Cut .3B In Costs By Shedding Office Space