Tech Giant PayPal Reportedly Closing San Francisco Office

Payment giant PayPal will reportedly be closing its office in San Francisco starting June 3. However, employees will still be able to access its nearby San Jose office. Another San Francisco Office Commits to Forever Remote Work Policy According to a report from TechCrunch, PayPal will be closing its offices in downtown San Francisco with its Xoom arm, the division responsible for carrying out international digital money transfer services. A person familiar with internal happenings told the publication that the employees will be able to work remotely in addition to having the option to work from the company’s headquarters in San Jose. “At PayPal, we are continually looking at and evolving how we can work in the most collaborative and efficient ways possible, and we routinely evaluate our global office footprint and spaces to ensure that our company and our employees are best set up for success,” a PayPal spokesperson told TechCrunch. Similar to PayPal, Coinbase crypto exchange too announced last year that it would be closing its San Francisco headquarters from this year as part of its “being remote-first” policy. Is Something Else Behind the Closure? PayPal cited the pandemic playing a role in its decision to close the San Francisco office, offering its employees “flexibility.” However, an anonymous person on Blind mentioned that the firm might be looking for ways to negate the Prop C tax. San Francisco leverages the tax upon ...