Facebook parent company Meta has scaled back plans for its new European Headquarters at Ballsbridge in Dublin 4.
The company has decided not to occupy Fibonacci Square, a development at the site of the former AIB Bankcentre.
Meta had signed a 25-year lease on the property but it has now instructed agents to sublet the blocks.
The company already occupies another part of the Ballsbridge campus and has begun moving staff there from its Grand Canal office building in Dublin 2.
"As part of the ongoing review of our sites globally, we have decided to sublet the final phase of the Ballsbridge campus," a Meta spokesperson said.
"We remain firmly committed to Ireland and in early 2023, employees based in our Grand Canal office will move to our existing campus in Ballsbridge, which will be the primary location of our International HQ," the spokesperson added.
"Our commitment to being a distributed-first company has provided us flexibility in our ways of working.
"We are also making focused, balanced investments that support our most strategic long-term priorities," Meta added.
Last month, the company announced plans to reduce the size of its global workforce by about 13% and let more than 11,000 employees go.
The move is expected to result in around 350 Irish-based workers losing their jobs.
There are around 3,000 people directly employed by Meta in Ireland and a further 6,000 people provide support services to the company's operations here.
The Irish Times first reported that Meta was scaling back plans for its European Headquarters.
