San Francisco Draws Pledges From Firms to Return Workers to City

(Bloomberg) -- San Francisco Mayor London Breed is accelerating efforts to lure office workers back to the city, drawing commitments from companies such as Bank of America Corp. and Uber Technologies Inc. to have employees return in some capacity this month.

Remote-work policies have taken a toll on the tech hub, which is struggling with the nation's weakest office occupancies, stubbornly low transit ridership and one of the country's slowest job recoveries.

“By committing to San Francisco, these businesses and many more are investing in this city and what makes it special -- the people who live and work here,” Breed said in a statement Thursday. “We are excited to welcome people back to downtown to work, to dine, and to experience the arts and culture that make this city special.”

The San Francisco metropolitan area had only about 26% of office workers back at their desks as of Feb. 23, according to security company Kastle Systems. That's the lowest share among 10 U.S. cities.

Now, employers including Google, Wells Fargo & Co., JPMorgan Chase & Co., Gap Inc., Salesforce.com Inc., Meta Platforms Inc. and the San Francisco Federal Reserve are among those that have committed to policies to bring back workers, according to the statement. Although plans vary by company, they signify “a critical milestone in the resumption of economic activity,” Breed's office said.

“One thing that the pandemic has taught us is that the benefits of in-person collaboration and camaraderie cannot be replaced,” Uber Chief Executive Officer Dara Khosrowshahi said in the statement. “Alongside other company leaders, I have been working regularly from the office each week, and will be encouraging my team to do so.”

San Francisco also is spending $12.2 million for “welcome ambassadors” throughout downtown, including transit hubs, who will welcome office workers and tourists and assist with street cleanliness and maintenance.

The moves show the growing urgency for city leaders to revitalize downtowns that have been hit by a drop in patronage of restaurants, shops and service businesses. New York Mayor Eric Adams last month urged CEOs to ramp up return-to-office efforts, saying “now is the time for us to get back.”