View Single Post
  #131  
Old Posted Aug 12, 2014, 5:32 AM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,747
http://nypost.com/2014/08/11/1460-br...or-a-makeover/


By Steve Cuozzo
August 11, 2014


Quote:
Our story on Monday about JPMorgan Chase’s real estate “review” — which might result in the bank leaving its 270 Park Ave. headquarters for a new Manhattan tower — drew some strangely spun follow-ups elsewhere.

One story suggested that the Jamie Dimon-led behemoth wanted to reshuffle its property deck because it has reduced its Manhattan workforce.
It’s true the bank has done that, for example relocating staff from One Chase Plaza downtown, which it sold to Brooklyn’s Metrotech.

But the real estate re-evaluation has more to do with future job pruning. The Manhattan haircut has barely begun, and bank insiders told us the bean-counters are taking a hard look at how many positions in support areas can be transferred to buildings JPMorgan owns in New Jersey and in Delaware, where it recently bought a 357,000 square-foot complex.

We’re also a tad skeptical of suggestions that Dimon’s interest in development sites such as Related Cos.’ 50 Hudson Yards is merely a passing whim of the sort every CEO entertains about new product. Nothing may come of it, of course — but no one should write it off as mere window shopping.
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote