Thread regarding Morgan Stanley layoffs

The firm is constructing a 709,000-square-foot skyscraper at 2401 McKinney Avenue in Uptown. This $1.3 billion project involves an investment of approximately $684 million by the bank and $650 million by the developer, Trammell Crow Company.

Location: 2401 McKinney Avenue (between Maple Avenue and Fairmount Street).
Timeline: The bank plans to lease temporary space nearby (potentially at Fountain Place) for about four years while the permanent tower is built.
Job Creation: The new hub is expected to create up to 4,800 jobs by 2039, with 3,800 positions anticipated by 2035.
Incentives: The Dallas City Council recently approved an $18.5 million incentive package to secure the project.

Potential "Growth".

1. Potential Hub Consolidation: The firm could consolidate its dispersed Dallas-Fort Worth operations (currently ~160,000 sq. ft. across multiple sites) into the single 709,000 sq. ft. tower. This centralization often pulls roles from smaller, satellite offices elsewhere.
2. Potential Role Shift: The new Dallas jobs could heavily weighted toward technology, legal, compliance, and operations—roles that support an automated, high-efficiency model—potentially replacing higher-cost legacy roles in New York.
3. Potential Cost Arbitrage: Moving roles from Manhattan (high tax, high salary) to Dallas (no state income tax, lower operational costs) could allow the bank to maintain the 4,800 headcount in Texas for the cost of roughly 2,500–3,000 in New York.

What happens to Alpharetta offices? Are they exiting Halcyon? Edison seems to be the main campus here

Some space will go towards consolidating employees in a few satellite offices in the area. Another portion will likely be dedicated to new hires. Instead of the headcount being based in X where the main team currently is, it will be sent to Dallas. Same approach they used when building out the Baltimore location. Then some roles will be straight relocations of the role, an article I saw specified a minimum of 1k but who knows. Pretty standard approach for these types of location strategy moves.