How do I hide the location indicator in Ubuntu GNOME?

I want to get rid of the Location indicator that appears in the notification area of the GNOME Panel. I have disabled location services in the Settings menu, yet the indicator is still shown.

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There's a new extension available now which does the job: Location Icon Autohide.


I did it by removing geoip-database and geoclue-2.0. It also asks to remove the gnome-maps and gnome-weather due to dependencies issues.