I noticed this location appears to be out of scope now for core locations. Are we going pull out of STL?
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Word is that STL is no longer a core location for WIM Ops. Only brokerage.
@a3 for now but not for long.
I've noticed that everything from internships to executive roles for WIM are now being posted with Charlotte as the primary location. STL is often still listed as a secondary location, but seems like a sign of things to come.
If you believe the rumors 2030 is the next target date. They are moving whole Ops groups to Charlotte currently. Ordered to not post any jobs in STL as the primary location. Eventually it will just be brokerage in STL. Probably all in 1 building.
WF loses money, often millions, on every property they sell. They couldn't care less.
There is zero chance they can sell 1 n Jefferson. Zero
@aw follow the money
@b1 LOL…no location is safe. Prepare for the worst.
@aw+1k6e5dhf8 Great question. They want St. Louis out of the picture enough that the real estate costs, or lack thereof, aren’t a make-or-break factor.
BUT, it so happens that the area the campus is in, Downtown West (bordering on Midtown) has seen a bit of an economic bo-m lately. In a few years, an IKEA, a soccer stadium, a large mixed use entertainment district called the Foundry, and apartment buildings have popped up nearby. Wells may, depending on economic conditions, be able to sell the real estate at a nice premium.
Real estate in STL is very cheap, so why would they want to shut down the building ?
Hudson Yards management wants to close the St. Louis location as soon as feasible, but it likely will take ~3 years. St. Louis has a lot of what they see as cultural baggage from legacy firms (AGE, Wachovia, Prudential Securities) that they want to eradicate from the company as Manhattanites/JP Morgan expats consolidate their grip on the company. In general, under the surface, there’s a lot of bad blood among different factions at the company, and St. Louis is on the losing side of things.
You just "noticed".. were you browsing core locations and it suddenly want there? Haha
@a8 maybe for Ops
Sure it’s a core location for WIM employees until they transfer those jobs to Dallas or India. STL has been a long time coming to get out of the market. By 2030 that building will be nothing.
STL is core location for wim employees.