Industry NewsTechnology

Move Inc. downsizes headquarters

No layoffs associated with cost-cutting move
Published on Oct 7, 2009

Realtor.com operator Move Inc. says the company will save about $1 million a year in rent by vacating nearly half of the office space it's occupied for the past nine years at its headquarters in Westlake Village, Calif.Move's new seven-year lease with Arden Realty Limited Partnership provides the company with 76,000 square feet on two floors at 30700 Russell Ranch Road, compared with 138,000 square feet under its previous lease, signed in 2000.Move spokeswoman Julie Reynolds said there are no layoffs planned in association with the downsizing of the corporate headquarters. Some employees have already been relocated to a 30,000-square-foot product development and marketing office in Campbell, Calif."We are working with the landlord to refurbish the (headquarters) facility to make a more enjoyable work environment," Reynolds said.Annual rent at the Westlake Village headquarters will average $2.2 million a year through 2016, compared with $4 million a year under the old lease, M...

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