LendingClub’s HQ in San Francisco hosts many of the perks of companies in the area like stocked kitchens, games and even an in-house spa; to cut on costs the company is moving 350 jobs to Utah which includes customer-support staff; the reduction will reduce their footprint by over 40%; CEO Scott Sanborn noted that growing exclusively in San Francisco simply doesn’t make financial sense; Bloomberg shares data that average office rents in San Francisco have increased 172% to $82.88 a square foot since 2010. Source
