PayPal to shut down San Francisco office starting June 3
https://abc7news.com/paypal-closes-san-francisco-office-sf-hq-stock/11794550/ Another one bites the dust after Stripe too left SF (bc of Prop C) and Block made Oakland their new flagship office.
KGO-TV
This is due to SF tax on revenue
I always curious what is the reason letting city level do their own tax policy, since you get the amazon hq shitshow
@Adobe: As a state, California (or NY) won't _prohibit_ a city from tacking-on another tax, so that's the beginning and end of it. San Francisco thinking it could pull off a 0.784% tax on the REVENUE of finance/fintech companies is shocking. With the spirit of WFH on everyone's minds, it's now an easy decision for (fin)tech companies to pick up and leave. https://sftreasurer.org/business/taxes-fees/gross-receipts-tax-gr
Don't we want remote job? Time to close the offices!
They're going to Oakland. Not the moon.
The office has been open since the end of Jan on a voluntary basis and there wasn't much turnout. If people aren't going to show up they aren't going to pay for the space
techcrunch says it's the xoom office. how big was xoom? https://techcrunch.com/2022/04/27/paypal-shuttering-its-san-francisco-office/
Lol SF real estate will crash. Company after company is closing there
Wow recession is truly coming
Stop saying recession. This is going to happen no matter what