Meta Platforms to sublet some of its Dublin offices

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Meta Platforms to sublet some of its Dublin offices

Meta Platforms has decided not to occupy part of its recently developed European HQ in Dublin and will instead sublet some of the site.

In 2018 the social media giant signed a 25 year lease on Fibonacci Square, a 375,000 sq ft office in Ballsbridge.

Meta has instructed its agent, Cushman Wakefield, to sublet all four of the newly developed blocks to other occupiers.

As part of the review of our sites globally, we have decided to sublet the Triton Square office and the final phase of the Ballsbridge campus, Meta said yesterday.

The new campus in Dublin will be the main location of Meta's European headquarters. Employees at the company's current Dublin office are expected to move to the existing part of the development in the south of the city early next year.

Facebook and Instagram's parent company said they remained committed to the UK and Ireland.

Meta's decision to sublet the offices comes at a time of upheaval for tech companies. In its first major layoffs last month, the social media giant said it would cut more than 11,000 jobs in its first major round of layoffs.

In recent months, Irish staff have been laid off at other technology companies such as Twitter and Stripe as the industry downsizes amid a period of turbulence.