Uber Technologies plans to give up about a third of the space at its San Francisco headquarters, adding to a wave of technology companies downsizing in the city.

The ride-hailing company is in the “early stages” of subleasing almost 269,000 square feet at its home, the Mission Bay neighbourhood, according to a statement. Uber said it never occupied the space, which is part of a cluster of four buildings making up the company’s headquarters.

“This will not change our footprint in the city or impact space available for employees,” the company said. “We remain committed to our hybrid work approach, which emphasises in-person collaboration, and continue to welcome employees to our Mission Bay campus.”

The move will add to an office glut in San Francisco, which has been battered by remote work and a downturn in the tech industry that fuels the local economy. Employers including Salesforce, Meta Platforms and Uber rival Lyft have looked to unload space in the city. Its office-vacancy rate increased to a record 29.4 per cent in the first quarter, among the worst in the country, according to data from CBRE Group. 

Uber’s subleasing plans were reported earlier by CoStar News. Representatives of Alexandria Real Estate Equities, the owner of the headquarters, declined to comment. BLOOMBERG