Social network X, formerly known as Twitter, will close its office in San Francisco. Thus, the company will cease its presence in the city where it was founded in 2006. This was reported by Bloomberg.

A knowledgeable source said that the company’s CEO, Linda Yaccarino, sent an email to employees. It said that X was moving out of its Market Street office.

The agency’s source also noted that employees of X’s San Francisco office will be transferred to San Jose and Palo Alto (both cities in California). According to the city’s mayor’s office, X is transferring 120 employees to these offices.

The move marks the end of X’s long history in the city where Twitter was founded almost 20 years ago. The social network has had an office on Market Street in the Mid-Market neighborhood since 2012.

It agreed to move to the area after receiving special tax incentives along with other tech companies. For a time, the neighborhood flourished with office workers, lively restaurants, and new residential developments.

But now the neighborhood is going through a rough patch as the city struggles to cope with the slow return of workers after the COVID-19 pandemic. While the AI boom has helped revitalize the area, San Francisco still has a 36% vacancy rate for office space.

Earlier it was reported that Elon Musk is moving X and SpaceX to Texas to protest against the California law protecting LGBT people.