Tech lay-offs are the latest blow to office landlords

Not long ago, big tech was splurging on flashy office space to woo talent. Money sloshed around and a hiring boom was under way. Even as the pandemic forced programmers and software engineers to work remotely, tech giants splashed out on lavish workplaces. Google has been beavering away on a sprawling complex in London with a 25-metre swimming pool and a rooftop running track, due to open in 2024, while shelling out $1bn on another building in the city. Amazon said it would add a dog-day-care facility and hiking trail at its new complex in Arlington, Virginia. In the two years to March, other tech companies across America and Canada added enough office space to fill the Empire State Building more than 20 times over.