Twitter co-founder and CEO, Jack Dorsey has announced that his company is seeking to hire remotely. This is because the company’s concentration in its San Francisco hometown “is not serving [them] any longer.”
“San Francisco will be where the majority of our employees will be based for the foreseeable future,” a Twitter spokesperson told Business Insider in an email statement. But Twitter will also be building support to employ remote talent.
“I don’t fear any slowness as we work to distribute our workforce now, and I do think we have to build a company that’s not entirely dependent on San Francisco,” Dorsey said during an earnings call on 6th February 2020.
This comment comes eight months after the expiration of Twitter’s tax break. The tax break was an incentive from the city of SanFrancisco in 2011. This was to keep Twitter and its value chain within the city.
However, it didn’t make the impact they had imagined. For example, employee cafeterias inside tech offices kept potential customers inside instead of patronizing local businesses.
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The tax break evidently helped Twitter, and other companies in the city save millions of dollars during the period.
Some critics see Twitter’s new direction as typical of the transient tech industry’s lack of integration into the community.
Former San Francisco supervisor and tax break opponent David Campos had told BuzzFeed News’, Alex Kantrowitz:
“I’m not surprised that they essentially benefited from a very generous tax policy by city government, only to turn around and say San Francisco is not a priority for us.”
The rationale behind Dorsey’s comment may actually be the series of problems companies have to battle in San Francisco. The city has high home and rent prices. This is further worsened by stringent zoning and building regulations, limited housing stock, as well as a bloated workforce.
Making it difficult for employees. The City also has one of the most expensive office markets in the US, something Twitter can avoid by hiring remotely.
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