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Pinterest pays $89.5 million to terminate San Francisco office lease

Pinterest, a social-sharing site popular for pinning recipes, home inspiration and more, has canceled its large San Francisco office lease.

The lease was for 88 Bluxome, a high-rise complex to-be-constructed near Pinterest’s existing San Francisco headquarters. The company cited a shift to work-from-home due to the coronavirus pandemic in its decision. Pinterest will keep its current city offices, however.

“As we analyze how our workplace will change in a post-COVID world, we are specifically rethinking where future employees could be based,” Pinterest  Chief Financial Officer Todd Morgenfeld said in a statement Friday. “A more distributed workforce will give us the opportunity to hire people from a wider range of backgrounds and experiences.”

By Katie Dowd, SFGATE

Published 6:50 am PDT, Sunday, August 30, 2020

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