Does anyone know if the Berkeley Heights, NJ office will still be open for employees to work from in addition to the three announced locations in NYC/Jersey City?
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The BH lease expires end of 2022. A decision to renew will be made shortly.
https://insurancenewsnet.com/innarticle/aig-to-relocate-global-headquarters-in-new-york-city#.XxkB5SU1jDs
This says 325k at Avenue of the Americas, which we’ve heard will house 800. 450k split between 28 liberty and jersey city. How much are you losing?
I imagine the plan was to cram as many people into the other two offices as possible. Now that they’ve learned from the pandemic that WFH is feasible, maybe they’ll consider a hybrid arrangement where people are only coming into the office one or two different days a week, and the rest of the time at home.
Midtown fits 1200, but is only being built out for 800 bc PZ wants to make sure he and his executive friends have more space to operate, ect. The whole sale of 175 and move to midtown does not save a single dime for the company. Another sad joke 😔
To me Berkeley Heights is not really considered located in the NYC area.
PZ’s email makes it seem like the three offices mentioned were going to be the only offices in the NY area. Maybe I misread it.
I can tell you that the headquarters move to the new offices at Rockefeller Center is being set up for only approximately 800 people. This office will only be for executives, admins, and a handful of support people. The remaining people would be housed out of other existing offices in NJ, remote, or laid off.
https://www.loopnet.com/Listing/100-Connell-Dr-Berkeley-Heights-NJ/4415491/
I agree with that there be permanent Work from Home for people in the Tri State area. That is one way of cutting expense with less office space. Some concerns on my part will be the following.
- Working from Home in Tri State, does not necessarily mean your job is safe from reduction in force. On the contrary, I believe this will make it easier for them to cut expenses and move the WFH position to a low cost state.
- WFH sounds great for everyone, but unfortunately we going to have people who are going to abuse it. Sure things looks good now, but eventually when the States are back to normal, the people will be out and the work won’t get done.
- Most WFH people will be back office workers. I doubt the Traders or the Portfolio managers will be WFH permanently.
- Zoom can only do so much, Teamwork within your group and outside your group will suffer in the long run. People are working together now, because of the Covid-19. Once that is done with I fear it won’t be the same.
Sorry to be a pessimist. It is just my opinion.
Let’s here other opinions out there.
Thank you
I heard from 2 reliable sources that BH was not renewed. Office choice is Jersey City or the new NYC offices and space will be very limited. WFH may be a permanent thing now that they’ve realized it can successfully work. I make it work, but its not ideal.
I did a Google search on the lease there. Because of the pandemic, looks like it was renewed because only 1/2 of 2 floors, with one not occupied, is up for lease.
I heard there's no more BH. The lease wasn't renewed.